Custodian Investment, a Lagos-based investment business owned by insurance magnate Wole Oshin, expects a significant profit gain in the fourth quarter of 2024. The company forecasts its after-tax earnings to increase by 119.74 percent to N30.98 billion ($18 million), up from N14.1 billion ($8.15 million) in the same time last year.
Despite adverse economic conditions, Custodian has demonstrated solid financial performance and cost management measures, as reflected in our prediction. Custodian declared a 31.59-percent increase in gross revenue for Q4 2024, forecasting N144.8 billion ($89 million) over N110.04 billion ($67.7 million) in Q4 2023. The group attributes this rise to strong performance in its insurance, pension, and investment divisions.
The company’s operational expenses are forecast to rise to N104.17 billion ($64.1 million) from N80.78 billion ($49.7 million) last year. However, Custodian predicts a considerable increase in net realized earnings of 1,592.69 percent to N2.42 billion ($1.47 million), owing mostly to exceptional investment returns.
Additionally, cash flow from operations is expected to increase to N54.88 billion ($33.45 million), indicating improved operational efficiency. Nonetheless, Custodian estimates negative cash flow from investing activities of N33.32 billion ($20.26 million), owing to significant investments in financial assets.
Custodian Investment, founded in 1991, has emerged as a prominent player in Nigeria’s financial sector under Oshin’s leadership. With a 26.81 percent interest in the company, Oshin has played a critical role in navigating market obstacles and guaranteeing consistent development.
His strategic vision continues to drive Custodian’s profitability, which is bolstered by a diverse portfolio and strong market presence.
As the Nigerian economy remains volatile, the company’s anticipated earnings increase is expected to boost investor confidence in Custodian’s financial stability and future growth prospects.
