Custodian Investment posts 111% rise in annual profit

Custodian Investment Plc, an investment holding company, saw its profit after tax more than double for the 2020 financial year.

Its after-tax profit rose by 111.15 percent to N12.69 billion last year from N6.01 billion in 2019, according to its audited financial statements obtained by Markets Reporters.

The company’s profit before tax grew to N13.69 billion in 2020 from N8.07 billion a year ago as its gross revenue increased to N75.06 billion from N61.42 billion.