Connect with us


United Capital grows revenue by 53.93% in H1



United Capital Plc. has announced a revenue of N6.85 billion in its unaudited financial statements for the half year ended, June 30.

The company’s Group Chief Executive Officer, Mr Peter Ashade, said this in a statement on Thursday in Lagos.

The revenue represented a growth of 53.93 per cent when compared with N4.45 billion achieved in the corresponding period of 2020.

Profit after tax stood at N3.74 billion against N2.27 billion recorded in the comparative period of 2020, an increase of 65 per cent.

Commenting on the performance, Ashade said the company ended the first half of the year upbeat, in spite of the challenging operating environment.

“I am excited to inform our stakeholders that United Capital Plc recorded a very impressive half-year 2021 result, following a record year performance in 2020.

“We ended the first half of the year on a very high note as reflected in our earnings growth and strong financial performance.

“United Capital is in a growth phase and I must say that our strong financial performance is a testament of our unwavering commitment to increasing value creation amid the harsh socio-economic environment and effects of the pandemic,” he said.

Ashade said the company would be focused on its transformation agenda by deepening its value propositions in the remaining half of the year.

“Our best-in-class digital platforms remain central to our purpose of transforming lives and promoting financial inclusion across Africa by providing easy access to collective investment schemes and micro loans while promoting socio-economic development,” he added.

Ashade assured the stakeholders of the company’s commitment to delivering superior returns.

He said the company would continue to work with regulators and other capital market operators on structural reforms to deepen the capital market as the domestic economy continued on the path to recovery.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.