United Capital Sustains Half Year Earnings Growth

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United Capital Plc was able to sustain its earnings growth for the half year ended June 30, 2016 with a growth of 46.60 percent in its profit after tax to N2,065 million when compared with N1,408 million that was recorded same period in 2015.

According to the results, gross revenue stood at N3.655 billion in 2016, up by 32.90 per cent from N2.750 billion posted in the corresponding period of 2015. Investment income rose from N1.349 billion to N1.721 billion, while fees and commission income grew from N817 million to N980 million an increase of 19.93 percent.

Net operating income settled at N3.411 billion, up from N2.546 billion, while total revenue stood at N3.655 billion, compared with N2.750 billion in the corresponding period of 2015. However, the company bottom-line was boosted by a N1.526 billion realized from the sale of investment in an associate company to hit N3.591 billion in 2016, up from N1.408 billion in 2015.

The investment banking firm had last financial year recorded an impressive performance and rewarded shareholders with a dividend of 35 kobo per share.

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