Nigeria’s first publicly listed infrastructure debt fund, the Nigeria Infrastructure Debt Fund (NIDF), issued by Chapel Hill Denham Investment Trust recorded a revenue of N3.81 billion in Q3 2023, marking a year-on-year increase of 26.4% from the corresponding quarter in 2022.
According to the comprehensive income statement for the period ending September 30, 2023, the fund reported a pre-tax profit of N3.35 billion in Q3 2023, representing a year-on-year growth of 27.3% from the figure recorded in Q3 2022.
For the nine months ending September 2023, the fund reported a pre-tax profit of N10.58 billion, which is a year-on-year increase of 48.0% from the corresponding period last year.
Key Highlights Q3 2023 vs Q3 2022
- Total income: N3.81 billion, +26.4% YoY
- Interest income on infrastructure loans: N3.44 billion, +23.7% YoY
- Total expenses: N458.48 million, +20.1% YoY
- Total operating profit: N3.35 billion, +27.3% YoY
- Profit before tax: N3.35 billion, +27.3% YoY
- Profit after tax: N3.35 billion, +27.3% YoY
- Quarterly distribution per unit: N3.81, +13.4% YoY
- Distribution yield: 14.97%, +157 bps
- Net asset value: N92.7 billion, +1.64% YoY
- Total assets: N95.41 billion, +0.85% YTD
More Insights
- On October 5, 2023, NIDF listed 853,817,592 units at N108.39 per unit on the main board of the NGX, thus becoming the first infrastructure debt fund to list on the NGX.
- As of the period ending 30 September 2023, NIDF holds a diversified portfolio of 27 investments.
- For Q3 2023, the quarterly distribution per unit is at N3.81, representing a 13.4% year-on-year increase from Q3 2022.
