United Capital Plc sustained its earning growth as shown in its audited financial statements for the period ended December 31, 2023.

Just as the Board of Directors proposed a dividend of N1.80k per share, amounting to a total of N10.8 billion dividend to be paid to shareholders upon approval by members at the Annual GGeneral Meeting (AGM).

Highlights of the result shows that gross  earnings grew by 71% year-on-year to N45.90 billion in FY 2023 compared to N26.90 billion in FY 2022 largely driven by growth in Net trading income (+63% year-on-year) and other income (+865% year-on-year).

Profit before tax grew by 28% year-on-year to N17.30 billion while profit after tax grew by 18% year-on-year to N11.42 billion driven by 71% growth in gross earnings during the year under review.

The company’s total assets rose by 55% year-on-year to N931.95 billion in FY 2023 compared to N601.92 billion in FY 2022 majorly attributable to 80% growth in investment securities.

Total liabilities grew by 48% year-on-year to N841.23 billion in FY 2023 compared to N568.93 billion in FY 2022 largely driven by 45% year-on-year growth in managed funds and 100% growth in borrowed funds.Shareholders’ Fund:

Shareholders’ funds rose by 175% year-on-year to N90.71 billion in FY 2023 compared to N32.99 billion in FY 2022 largely driven by increase in fair value reserve during the year under review.