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    IMG Posts N1.6bn Profit for 2024

    Olu AnisereBy No Comments1 Min Read
    IMG Posts N1.6bn Profit for 2024

    IMG Posts N1.6bn Profit for 2024

    The Industrial and Medical Gases Nigeria (IMG) has recorded N1.622 billion profit for the financial year ended Dec. 31, 2024. This is a 90 per cent increase from N852.75 million recorded in 2023.

    The company declared this in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. While its revenue rose by 38 per cent from N6.064 billion in 2023 to N8.376 billion in 2024, the company’s profit before income tax also grew by 96 per cent from N1.247 billion in 2023 to N2.442 billion in 2024.

    Its share capital remained the same at N249.75 million. The total equity witnessed 41 per cent surge from N4.19 billion in 2023 to N5.91 billion in 2024. The company paid N196.441 million dividend in 2024 as against N157.031 million paid in 2023, recording 25 per cent increment.

    The company’s declared cash dividend during the year 2024 was N249.75 million, a 100 per cent increase from N199.79 million of 2023. The results from operating activities rose by 92 per cent from N1.279 billion in 2023 to N2.449 billion in 2024. #IMG Posts N1.6bn Profit for 2024#

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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