United Capital reports N3.74bn profit in six months
United Capital Plc has reported a profit before tax of N3.74 billion for the first half of the 2021 financial year, up from N2.27 billion in the same period a year ago.
The company’s profit after tax rose by 64 percent to N3.14 billion in HY 2021 from N1.91 billion in HY 2020.
Its revenue grew to N6.85 billion from N4.45 billion, according to its unaudited financial statements obtained by Markets Reporters.
United Capital said its total assets increased to N320.23 billion as of June 30, 2021, compared to N222.75 billion a year earlier, while total liabilities grew to N296.68 billion from N198.32 billion.
The Group Chief Executive Officer, Mr Peter Ashade, said, “We ended the first half of the year on a very high note as reflected in our earnings growth and strong financial performance.
“United Capital Plc is in a growth phase, and I must say that our strong financial performance is a testament of our unwavering commitment to increasing value creation for all our clients amid the harsh socio-economic environment and lingering effects of the devastating pandemic.”
He said in the remaining half of the year, the company would be focused on its transformation agenda by deepening its value propositions to underserved market segments, especially mass affluent and mass market clients, while driving phased automation of our business processes.
“Our stakeholders can be assured of our commitment to delivering superior returns. More importantly, we will continue to work with our regulators and other capital market operators on structural reforms to deepen the capital market as the domestic economy continues the path to recovery,” Ashade added.
