Accesscorp 2024 Net Profit Limps 3.7%, Despite 88% Earnings Growth, Directors Propose N2.05 Dividend Per Share

Access Holdings Plc, on Wednesday published its audited financial for the year ended December 31, 2024 through the Nigerian Exchange Limited platform showing that despite the 88% growth in gross earnings income, net profit merely limped by 3.7%.

Earnings per share, however slipped from N17.23 to N16.71 each, following which the directors have recommended a final dividend of N2.05, up from N1.80, in addition to an interim dividend of N0.45, compared to N0.30 each.

Total assets for the period rose to N41.498tr, 55.49% better than the N26.688tr recorded in the corresponding period of 2023, driven by the N11.487tr in customer loans and advances, up from N8.037tr; which was slightly better than the investment securities valued at N11.343tr, which more than doubled from the previous N5.342tr. Total liabilities soared from N24.503tr to N37.737tr, representing a 54.01% growth within the period, with customer deposits accounting for N22.524tr, compared to N15.322tr in the 2023 full-year. Shareholders’ fund, therefore improved to N3.76tr, up from N2.185tr, or 72.04%.