REG - ICFG Limited - Invescore NBFI JSC Audited Financial Statements

ICFGAnnouncement

15/04/2025 07:02

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RNS Number : 0624F  ICFG Limited  15 April 2025

15 April 2025

ICFG LIMITED

("ICFG" or the "Company")

Invescore NBFI JSC Audited Financial Statements

 

ICFG announces the publication today of the Audited Financial Statements of
its Mongolian subsidiary, Invescore NBFI JSC, quoted on the Mongolian Stock
Exchange, for the twelve-month period ended 31 December 2024.

The results presented cover the financial performance of Invescore NBFI JSC,
an 80.81% owned subsidiary of ICFG Limited, for the period prior to the
completion of the reverse takeover by ICFG Limited (formally known as Fintech
Asia Limited). These figures are disclosed to provide insight into the
underlying business operations prior to consolidation under the newly formed
ICFG Limited.  The audit of Invescore NBFI JSC has been undertaken by Ernst
& Young Mongolia Audit LLC.

Financial Highlights

 ·   Profit before tax increased from MNT 59.7 billion (approximately US$16.9
     million) in 2023 to MNT 107.3 billion (approximately US$30.3 million) in 2024,
     a growth rate of 79.6%

 ·   Profit for the year increased by 87.2%, rising from MNT 44.6 billion
     (approximately US$12.6 million) in 2023 to MNT 83.4 billion (approximately
     US$23.6 million) in 2024

 ·   Net interest income rose from MNT 79.0 billion (approximately US$22.3 million)
     in 2023 to MNT 141.0 billion (US$39.9 million) in 2024, a 78.5% increase

Click on the following link, or paste it into your web browser, to view the
Invescore NBFI JSC Audited Financial Statements PDF document:
https://mse.mn/uploads/finance/INV-20244AuditEN.pdf
(https://mse.mn/uploads/finance/INV-20244AuditEN.pdf)

Oliver Fox, CEO of ICFG, commented:

"We are delighted to share the 2024 annual results of our subsidiary,
Invescore NBFI JSC, which operates in Mongolia, Kyrgyzstan, Uzbekistan and
Kazakhstan, in Central Asia. The significant growth in revenue and profits
year-on-year, with profit before tax of over US$30 million, is particularly
pleasing.

"This continued growth and development of our largest subsidiary, acquired in
our recent reverse takeover, positions ICFG well for the future as we progress
as a London listed company aiming to deliver significant value for
shareholders.  I look forward to providing further updates in due course."

Note: MNT figures have been translated at a rate of 3535.42 MNT/US$, being the
rate on 12 April 2025

It should be noted that the first set of results relating to ICFG post
acquisition will be its interm results for the 6-month period ending 30 June
2025.

 

 For further information please contact:

 ICFG Limited                                       Via IFC
 Oliver Fox, CEO

 Strand Hanson Limited (Financial Adviser)          +44 (0) 207 409 3494

 Rory Murphy / Abigail Wennington / David Asquith

 Novum Securities (Broker)                          +44 (0) 207 399 9400

 Jon Bellis / Colin Rowbury

 IFC Advisory Limited (Financial PR and IR)         +44 (0) 203 934 6630
 Tim Metcalfe

 Zach Cohen

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

LEI: 213800C7BC4EZQAEBT76

 

 

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