Saturday, 18 July 2015

UNITED CAPITAL RECORDS INCREMENT IN PROFIT BY 20% IN 1ST HALF OF 2015

Barrister Mrs. Oluwatoyin Sanni, GMD, United Capital Plc
An investment banking and financial services subsidiary of United Bank for Africa Plc (UBA) known as United Capital Plc, said that its profit before tax grew by 20% to N1.79bn in the first half of 2015 from N1.50bn in the same period last year. Its profit after tax also improved by 13% from N1.2bn in 2014 to N1.4bn in the first half of 2015. The firm posted unaudited earnings growth of 22 per cent for the half year ending June 30, 2015 from N2.26bn in 2014 to N2.75bn in 2015.

Tectono Business & Politics gathered that during the period under review, United Capital Plc successfully closed key capital market transactions that boosted its fees and commission income, which accounted for 30% of gross earnings amounting to N817m. In addition to this, investment income also rose by 53% to N285m.

The Group Chief Executive Officer of United Capital, Barrister Mrs. Oluwatoyin Sanni, was quoted in a statement as saying: “Our strong start in first quarter has propelled the success of our business this year. Despite several challenges in the market, United Capital has managed to exhibit sustained growth for H1. We believe this upward growth will continue through the third and fourth quarters. We look forward to continued delivery of superior service across all of our businesses for the second half of the year.”