NSE recorded significant growth in 2013 — Dangote

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nseLAGOS – The President of the Nigerian Stock Exchange (NSE), Alhaji Aliko Dangote, on Wednesday said that the NSE recorded significant in its financial operations in 2013.

Dangote, who made the announcement at the Annual General Meeting (AGM) of the NSE in Lagos, said that there were many ground-breaking developments in the nation’s capital market during the period.

“In the capital market, the bullish run that began in 2012 continued greater impetus.

“And with this in mind, I am happy to announce that the NSE All Share Index (ASI) ranked among the top 10  best performing indices in the world, in 2013,” Dangote said. [eap_ad_2] Also speaking, the Chief Executive Officer of the NSE, Mr Oscar Onyema, said that the strategic focus of the exchange had delivered strong performance for the company.

He said that the company’s operating surplus increased by 183 per cent to N3.26 billion, compared with N1.18 billion in the previous year.

According to him, the exchange’s total income appreciated to N5.40 billion in 2013 or 39 per cent N514. 99 million in 2012.

He said their income in the period under review was derived primarily from general equities, bonds trading and listing fees.

“The total assets grew by 20 per cent year-on-year, trading revenues increased 67 per cent to N3.13 billion and market data revenues soared by over 300 per cent as a new business segment for the bourse.

“The total volume and value traded in equities recorded solid growth of 20 per cent and 59 per cent respectively,” he said.

On the market’s outlook, the CEO said that the group had concluded its transformation agenda, which served as new strategic direction, considering the structural changes occurring in the industry.

“In the year ahead, we anticipate we begin to realise the expected benefits from recent transactions and other benefits from our more recent attention to product development,” Oscar added. (NAN) [eap_ad_3]