October 9, 2017

United Capital records 10% growth in  gross earnings Q3

Stock exchange

Nigerian Stock Exchange

United Capital Plc, reported nine-month Gross Earnings of N6.2 billion, representing a  10 per cent year on   year growth and Profit Before Tax of N3.9 billion.

United Capital’s Shareholder’s Fund grew by 7 per cent year-to-date to N15.2 billion, a reflection of the Group’s resilience and capacity to create value for its investors irrespective of the cycle over the long term.

Additionally, United Capital’s strong balance sheet capacity reflects a strong franchise and ability to remain a trusted partner to clients in pursuit of their financial goals.

Commenting on the results, the Group CEO, Oluwatoyin Sanni said; “The 10 per cent growth in   gross earnings reflects the positive trajectory of the Group, driven by the loyal support of our esteemed customers and our results-oriented workforce. In spite of the challenging macroeconomic and business environment, we leverage innovation and tenacity to gain market share across our diversified business lines. We broadened our African footprint, launched new offerings to meet the evolving needs of our clientele, and enhanced our online trading platform (InvestNow 2.0), which is built on new technologies.”

Continuing, she said : “As a recognition of our strong balance sheet, business capacity and sound governance, Agusto & Co, the foremost rating agency in Nigeria assigned United Capital an ‘A-’ rating with a stable outlook on our Group – a top notch upgrade from ‘BBB+’ and the highest rating of an investment bank in Nigeria.”