2021 9M Results: United Capital Plc grows profit after tax by 72% to N5.97 billion.

United Capital Plc release its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Gross earnings for the period totalled N11.33 billion. (+60.3% YoY)
  • Fee and commission income of N4.77 billion. (+112.1% YoY)
  • Net operating income was N11.08 billion. (+63.9% YoY)
  • Total expenses were N4.24 billion. (+43.8% YoY)
  • Total assets for the period stood at N400.75 billion.
  • Profit for the period was N5.97 billion. (+72.2% YoY)
  • Earnings per share of 133 kobo Vs 77 kobo YoY.
  • Total shareholders’ fund for the period stood at N26.9 billion.
  • Cost to Income Ratio of 37.4% Vs 41.67% YoY

Commenting on the results, the Group CEO of United Capital Plc, Mr Peter Ashade said: ”I am pleased to inform our stakeholders that United Capital ended the third quarter of the year with another outstanding performance. We delivered an increased revenue of 60% year-on-year, PBT growth of 72% year-on-year to N7.09b and total asset growth of 80% year-to-date.

”During the period under review, United Capital successfully listed three series commercial papers worth N19.72 billion on the FMDQ Securities Exchange. The CPs were issued under the company’s N50 billion commercial paper issuance program. This has further positioned us as a company to provide a wider range of wholesale financing solutions to our clients and complement funding base and support for all our businesses.

”Another remarkable point to note was the Nigerian Stock Exchange’s reclassification of United Capital shares from Low Price Stock Group to Medium Price Stock Group in August 2021 driven by steady growth in the company’s share price over the past months due to our consistent impressive performance over the years.

”I want to assure our stakeholders that we are optimistic on sustaining this exciting performance in the last quarter of the year and beyond. We remain focused on our transformation agenda and to continue to provide best-in-class solutions to all client segments. We are also committed to deliver superior returns as we seek to always delight our shareholders.”

See link to results.

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