Foremost Pan-African financial and investment services group, United
\nCapital Plc has announced its audited results for the full year ended
\nDecember 31, 2020, recording double-digit growth across all its major
\nincome lines.<\/p>\n
Despite the Covid-19 pandemic and the resultant challenging operating
\nenvironment, the investment institution leveraged on increased
\nefficiency to deliver an impressive 61 per cent year-on-year growth in
\nprofit before tax to N7.95 billion compared with N4.95 billion at the
\nend of 2019; while profit after tax stood at N7.81 billion, showing an
\nincrease of 57 per cent above the N4.97 billion it closed in 2019.<\/p>\n
United Capital also recorded a 50 percent year-on-year growth in gross
\nearnings to close at N12.87 billion in December 2020, compared to N8.59
\nbillion recorded in the similar period of 2019.<\/p>\n
On account of a significant 54 per cent increase in investment in
\nfinancial assets, United capital\u2019s total assets also rose by 48 per cent
\nto N224.75 billion in the period under review, compared to N150.46
\nbillion recorded at the end of the 2019 financial year; while
\nshareholders\u2019 funds grew to N24.43 billion rising by 25 per cent from
\n19.59 billion a year earlier.<\/p>\n
On the back of the strong performance, the Directors of United Capital
\nhave proposed a dividend of 70k per share, amounting to a total of N4.2
\nbillion dividend to be paid upon ratification by shareholders at its
\nforthcoming AGM. The 70k dividend per share, which is higher than the
\n50k per share declared in 2019, is payable to shareholders whose names
\nappear on the Register of Members at the close of business on March 5,
\n2021.<\/p>\n
The Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade,
\nexpressed delight on the performance, which according to him is cheering
\nnews despite the challenges that most companies faced in the year 2020.<\/p>\n
He said, \u201cI am pleased to inform all stakeholders that United Capital
\ndelivered impressive returns amid the unprecedented environment worsened
\nby the pandemic during the 2020 financial year with remarkable
\ndouble-digit growth in Revenue, PBT and PAT and solid performance across
\nkey business parameters.<\/p>\n
\u201cThis empowers us to adopt a more positive outlook for the year 2021 as
\nwe navigate the tough terrain compounded by a second wave of the
\nCOVID-19 pandemic among other severe economic challenges,\u201d Ashade noted.<\/p>\n
Speaking on its plan for the 2021 financial year, Ashade said, \u201cDespite
\nthe tough operating environment, all stakeholder groups can be assured
\nof our commitment to providing best-in-class solutions to diverse client
\nsegments and delivering superior returns to shareholders even as we work
\nwith regulatory authorities to strengthen the broader financial system
\nas the domestic economy continues on the path to recovery in the year
\n2021.\u201d<\/p>\n
United Capital Plc is a leading Pan-African financial and investment
\nservices group, with a mission to provide bespoke and innovative
\nvalue-added services to its client. The group aims to transform the
\nAfrican continent by providing innovative and creative investment
\nbanking solutions to governments, companies, and individuals<\/p>\n
Foremost Pan-African financial and investment services group, United Capital Plc has announced its audited results for the full year ended December 31, 2020, recording double-digit growth across all its major…<\/p>\n","protected":false},"author":1,"featured_media":78753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-78752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n