The Nation (Nigeria)

United Capital grows first half profit by 65%


UNITED Capital Plc recorded impressive growth in the bottomline in the first half with pre-tax profit rising by 65 per cent.

Key extracts of the interim report and accounts for the first half ended June 30, 2021 showed gross earnings of N6.85 billion while profit before tax rose to N3.74 billion. Earnings per share stood at N1.05 cent.

Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, said the organisati­on was in a growth phase, and its strong financial performanc­e is a testament of its unwavering commitment to increasing value creation for all its clients amid the harsh socio-economic environmen­t and lingering effects of the devastatin­g pandemic.

"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," Ashade said.

According to him, in the remaining half of the year, the group will focus on its transforma­tion agenda by deepening value propositio­ns to different market segments especially mass affluent and the underserve­d mass market clients, while driving phased automation of its business processes.

He noted that the group's bespoke affluent segment propositio­ns, including private trusts, and wealth management solutions, are curated to increase, preserve, and transfer wealth for its fast-growing affluent customer base.

"Furthermor­e, our best-in-class digital platforms remain central to our purpose of transformi­ng lives and promoting financial inclusion across Africa by providing easy access to collective investment schemes and micro loans while promoting socioecono­mic developmen­t.

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 said.

He reiterated that United Capital remains a leader in the financial and investment services space, with a mission to provide bespoke and innovative value-added services to its clients.

According to him, the group aims to transform the African continent by providing innovative and creative investment banking solutions to government­s, companies, and individual­s.

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

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