Monday, February 26,
2018 6.31PM /NSE
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United Capital Plc, one of Africa's leading investment
banking groups, announced its Audited 2017 Full Year Financial Results, showing
a turnover of N8.9billion and profit before tax of N5.5billion, for the year
ended 31 December 2017. The Company delivered an annualized Earnings Per Share
of 73Kobo and declared a Dividend of 35 Kobo per Share.
Despite the uncertain economic environment of 2017,
United Capital generated Gross earnings of N8.9bn, a slight decline of 1% from
N9bn in 2016. Operating income improved by 5% from N6.7bn in 2016 to N7.0bn in
2017. PBT declined by 13% from N6.4bn to N5.5bn owing to non-recurrent foreign
exchange revaluation gains of N1.3bn realised in 2016. In 2016, the Group
recognized one-off foreign exchange gains of N1.3bn following the devaluation
of the naira.
Shareholders' funds improved by 18% from N14.2bn to
N16.8bn despite a drop in Total asset by 15% attributable to significant
payouts to bondholders by the Trustee business. Despite sustained macroeconomic
challenges in 2017, United Capital Plc has maintained its position as a market
leader delivering innovative solutions to its clients across its businesses.
The rise in group operating income was driven by
efficient execution of key mandates in investment banking, trusteeship and
securities brokerage and by the introduction of innovative products such as the
Nigerian Eurobond Fund and the Wealth for Women Fund and by improvements in
operations and IT capabilities, ensuring the optimization of value and
retention of a significant proportion of earnings.
United Capital continues to pursue a clear and
consistent strategy, which will always deliver a strong performance for
shareholders, and we remain positive about our future opportunities within the
Nigerian and African market, " stated Group Chief Executive Officer,
Highlights of 2017 successes in key business areas
include, but are not limited to:
The launch of two new
Mutual Funds - Wealth for Women Fund and Nigerian Eurobond Fund.
services to the UBA US$500 million Eurobond.
issuing House and Joint
Trustee Mandate to the LASG N100Billion Bond Issue.
Received an ‘A-' Credit
Rating from top Pan African Credit Rating Agency, Agusto & Co, an upgrade
from the firm's ‘BBB+' rating the previous year (2015).
Awarded Most Outstanding
Company of the year 2017 by the Peal Award Board.
United Capital Plc remains committed to achieving our
goal of building Africa 's Leading Investment Banking Group and to delivering
service excellence across all of our business units in pursuit of our strategic
objectives in 2018
Capital Plc Announces Board Meeting Date and Closed Period
- Women in Finance ng hosts its 1st 2018 Dinner in partnership with
United Capital - To honour DG, DMO
- Gowon graces 2017 PEARL Awards, United Capital emerges overall
- UCAP declares N3.27 billion Profit in Q3'17 Results; (SP:N3.06k)
- UCAP declares N1.99 billion Profit in Q2'17 Results; (SP:N3.29k)
- United Capital Lists the Nigerian Eurobond Fund and Wealth for Women
Fund on the Exchange
declares N1.17 billion Profit in Q1'17 Results; Grows PAT by
- UCAP declares N6.91 billion
Profit in 2016 Audited Results; Grows PAT by 169%,(SP:N3.82k)
- United Capital Plc - Notification of Closed Period and Dividend