United Capital Plc Concludes Q1 on a High Note- Reports 59% Growth in Profit
United Capital Plc, one of Nigeria’s leading investment banking and financial services groups has announced 2016 Q1 gross earnings of N1.85 Billion, up from N1.30Billion in 2015, representing a 42% increase from the previous year.
Its Profit Before Tax was N1.42Billion in Q1 2016 up from N0.89Billion in Q1 2015, representing a 59% increase. Profit After Tax also grew by 61% in Q1 2016, closing at N1.13illion, up from N0.71Billion in 2015.
In a statement released by the company,Group CEO, Oluwatoyin Sanni said: “We entered the new year with a full understanding of what was ahead of us. Therefore, we prepared for and anticipated the roadblocks and adjusted accordingly. We adopted a Group-wide operational approach of ‘Effectiveness and Efficiency’ in delivering superior services to our clients in order to achieve our goals. We believe this will help us maintain sustained growth through the remaining quarters of the year.”
United Capital Holds Annual General Meeting
United Capital held it’s Annual General Meeting on Thursday, April 14 at EKO Hotels & Suites in Victoria Island, Lagos. Despite the extended economic challenges in the market in 2015, United Capital exhibited sustained growth throughout last year (reported 2015 FYE of N6.15 billion, up from N4.68 billion in 2014) and in to 2016. The firm declared a 35 kobo dividend to shareholders.
