United Capital Reports N6bn PAT in Q3 2021 Results; (SP:N9.45k)

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Friday, October 15, 2021 / 04:59 PM / by NGX / Header Image Credit: United Capital


United Capital Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.


Key Highlights

  • Gross Earnings grew by 60% to N11.3bn from N7.1bn in the previous quarter.

  • Profit before tax grew by 72% to N7.1bn.

  • Profit after tax grew by 72% to N6bn.

  • Net Assets grew by 10% from N24bn to N27bn.

  • Share Price Currently Stands at N9:45k


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United Capital Plc Records 72% Profit Growth  

United Capital Plc ("United Capital" or "The Group"), Nigeria's leading investment bank and a foremost Pan-African financial and investment services group, announced its Unaudited Financial Statements for period ended September 30, 2021 on October 15th, 2021, showing a Revenue of N11.33Billion and Profit Before Tax of N7.09Billion while delivering an Earnings Per Share of 133 kobo.

 

United Capital Plc remains a leader in the financial and investment services space, with a mission to provide bespoke and innovative value-added services to its clients. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies, and individuals.

 

The group is listed on the Nigerian Exchange Limited (NGX) and is at the forefront of becoming the financial and investment role model across Africa by leveraging on innovation, technology, and specialist skills to exceed client expectations, while creating more value for all stakeholders.

 

Commenting on the Group's performance the Group CEO, Mr. Peter Ashade, had this to say:

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 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 Exchange Limited'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.


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