July 20, 2021
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United Capital Plc has declared a profit before tax growth of 65 per cent in the first half of the year ended June 30, 2021.

The company’s unaudited financial statements released on the Nigerian Exchange Limited showed profit before tax grew to N3.74 billion in H1, 2021, compared to N2.27 billion in H1, 2020.

Also, profit after tax rose by 64 per cent from N1.91 billion in 2020 to N3.14 billion in 2021 while earnings per share closed H1, 2021 at N1.05 from 64 kobo as at June 30, 2020.

The company grew its revenue by 54 per cent year-on-year to N6.85 billion in H1, 2021, compared to N4.45 billion in H1, 2020. Operating income stood at N6.81 billion in H1, 2021, compared to N4.35 billion in H1 2020, an appreciating of 57 per cent, while operating expenses was up by 43 per cent to N3.11 billion, as against N2.18 billion.

The company’s total asset recorded 44 per cent year-to-date to N320.23 billion, compared to N222.75 billion as at full year 2020, while shareholders’ fund stood at N23.55 billion, a 3.57 per cent year-to-date decrease relative to full year 2020’s value at N24.43 billion.

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Speaking on the company’s performance, the group CEO, Mr. Peter Ashade said: “I am excited to inform our stakeholders that United Capital recorded a very impressive half-year 2021 result following a record year performance in 2020. We ended the first half of the year on a very high note as reflected in our earnings’ growth and strong financial performance.”

According to him, United Capital 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.

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