INVESTMENT HIGHLIGHT
Central Securities Clearing System (or the “Company” or “CSCS”) Plc, released its unaudited Financial Statement for the period ended September 30, 2015 in October 2015. Total revenue declined by 7.58% to ₦5.68 billion ($28.83mn) from ₦6.14 billion ($31.42mn) Year-on-Year (YoY). Profit after tax (PAT) also declined by 10.83% to ₦3.36 billion ($17.05mn) from ₦3.77 million ($19.13mn) YoY. The Company battled with expenses which rose by 16.17% leading to a decline of 18.76% in profit before tax. Expense to revenue ratio grew to 28.31% in Q3 2015 compared to 22.52% in previous year. Cost to revenue ratio also grew in the period under review.
Trading activities on the Nigerian Stock Exchange reduced significantly YoY with total deals reducing from 936,697 deals to 771,706 deals (17.61% decline). Q3 2015 YTD showed value of trades at ₦829.21 billion as against ₦1.021 trillion (18.82% decline) for comparative period in 2014.
Interest income grew by 25.38% compared to same period in 2014 while the Company’s operating profit margin declined to 71.69% compared to 77.48% in 2014.
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https://drive.google.com/file/d/0B7bfqve2E3QrVjVhMG4tSGhocWc/view?usp=sharing
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