Q1: United Capital Reports 67% Growth in PAT
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 the period ended March 31, 2021 on April 28th, 2021, showing a Revenue of N3.12Billion, and Profit Before Tax of N1.97 Billion while delivering an Earnings Per Share of 111 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 Stock Exchange 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.
While commenting on the group’s performance the Group CEO, Mr. Peter Ashade, had this to say: “I am pleased to inform all stakeholders that United Capital Plc has commenced the first quarter of the year from a stable position with remarkable earnings growth and strong performance across key financial parameters even as we continued to navigate the tough terrain which at the moment, points to a recovery in the domestic economy amid other improving global macroeconomic developments.
With our well-articulated plans and solid management framework, we were able to deliver an increased revenue of over 63%, increased PBT of 68% and PAT increase of 67%.
“This performance empowers us to adopt a positive outlook on the remaining part of the year 2021 as the operating environment improves supported by fiscal stimulus programmes, easing of restrictions on business operations, reopening of international and domestic travels, resumption of wholesale and retail trading activities as well as the rebound in oil prices.
We have continued to drive our strategy as we continue to push further our market diversification and cost-optimization initiatives as well as implement phased automation of our business processes whilst upholding our commitment to ensuring a significant improvement in our value delivery to all our stakeholders.
Discussing the result further he stressed that; “Going into the remaining quarters, we remain diligently committed to delivering greater value to our stakeholders and providing best-in-class solutions to diverse client segments by constantly reviewing our strategy in the light of global and domestic developments even as we work with regulatory authorities to strengthen the broader financial system as the domestic economy continues on the path to recovery.