CSCS Posts N1.177b Profit, As NSE Index Sheds 0.34% | Independent Newspapers Limited
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CSCS Posts N1.177b Profit, As NSE Index Sheds 0.34%

Posted: Jun 25, 2015 at 1:40 am   /   by   /   comments (0)

By Bamidele Ogunwusi – Lagos


Central Securities Clearing System Plc (CSCS) has submitted its first quarter ended March 31, 2015 financial result to the management of the National Association of Securities Dealers (NASD), an Over-the-Counter securities (OTC) market.

In the result, the company posted a total revenue of N1.872 billion from N1.613 billion reported in the corresponding period of 2014, representing an improvement of 16.07 percent, profit before tax rose by 23 percent from N1.102 billion to N1.361 billion, while profit after tax rose significantly from N882.03 million to N1.177 billion, representing an improvement of 33.52 percent.

Meanwhile the equities market further closed northward on Wednesday when the twin gauge of the market –the All-Share Index and market capitalisation depreciated by 0.34 percent each.

The All Share Index depreciated by 113.97 basis points or 0.34 percent to close at 33,266.87 points as against 33, 380.84 points recorded on Tuesday, while market capitalisation shed N38.903 billion to close at N11.356 trillion compared with N11.395 trillion recorded in the previous trading day.