BUSINESS

United Capital Grows Profit By 44% To N11.26B In 2021

 

United Capital Plc has released its audited financial statements for the year ended December 31, 2021 with profit after tax of N11.26 billion in FY 2021, a 44% growth year-on-year compared to N7.81 billion in FY 2020 .

Gross earnings was up 40% year-on-year to N18.07 billion, operating PBT grew 53% year-on-year to N12.12 billion. Total assets grew 104% year-on-year to N453.60 billion while Shareholders’ Funds rose 25% year-on-year to N30.55 billion from N24.43 billion.

The company has proposed 114% increase in dividend to N1.50 for every 50 kobo ordinary share.

Speaking on the audited financial results, Professor Chika Mordi, the Board Chairman said,“We are proposing N1.50 dividend for every 50 kobo ordinary share, up 114% over 70 kobo dividend paid last year. This affirms our commitment to wealth creation for our shareholders”.

Commenting on the Group’s performance, the Group Chief Executive Officer, Mr. Peter Ashade said “Our strong performance was driven by exponential growth in business activities across all the market segments that we serve as we successfully navigated a volatile operating environment to create best-in-class solutions for our clients.

“United Capital is on a progressive path as witnessed in our strong earnings growth and superior value delivery to shareholders over the years, amongst other metrics that are reflective of high performing organisations.

“All stakeholders can be assured of our commitment to sustain our organisational growth trajectory well into the foreseeable future as we navigate the tough operating terrain.

“We will continue to pursue developmental activities and actively engage regulatory authorities, investors and relevant stakeholder groups towards deepening the capital market, strengthening the broader financial system and driving financial inclusion as a means of accelerating the economic development of our dear country and empowering its citizens”.

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