United Capital Defies Market Volatility, Grows Half-year Profit by 65%
The United Capital, Nigeria’s investment bank and pan-African financial and investment services group, yesterday announced its unaudited results for the half year ended June 30, 2021.
The results showed resilience as the company soared through the volatile markets to record significant growths in all performance indices.
Details of the results indicated that revenue rose to N6.853 billion, from N4.447 billion in the corresponding period of 2020. Total expenses printed at N3.113 billion, compared with N2.179 billion in 2020.
However, profit before tax jumped by 65 per cent to N3.740 billion, up from N2.268 billion, while profit after tax (PAT) rose from N1.913 billion to N3.142 billion in 2021.
Commenting on the performance the Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, said: “I am excited to inform our stakeholders that United Capital Plc recorded a very impressive H1 2021 results following a record year performance in 2020. We ended theH1 year on a very high note as reflected in our earnings growth and strong financial performance. United Capital Plc 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.”
Ashade said that in the remaining half of the year, they would be focused on their transformation agenda by deepening their value propositions to different market segments especially mass affluent and the underserved mass market clients, while driving phased automation of our business processes.
“Our bespoke affluent segment propositions including private trusts, and wealth management solutions are curated to increase, preserve, and transfer wealth for our 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 socio-economic 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,” he said.
A Mutual fund (Unit Trust)
is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund)
is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust)
is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 14Jul-2021, unless otherwise stated.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF.
Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.