Foremost pan-African investment banking and financial services group, United Capital
Plc, has announced its Unaudited Financial Results for the period ended June 30, 2023.
Gross Earnings rose by 21% year-on-year to N11.01billion, PBT grew 6% year-on-year to N5.54billion, PAT was up by 6% year-on-year to N4.69billion whilst Total Assets grew by 34% year-to-date to N805.77 billion.
Looking ahead and commenting on the Group’s performance, the Group Chief
Executive Officer, Mr. Peter Ashade, had this to say;
“Our strong H1-2023 result as witnessed in our earnings growth, among other
parameters, reinforces our strong start to the year 2023 amid the very challenging
operating environment in the first half of the year. Going into the second half of the year 2023, we continue to see emerging opportunities across all our business entities especially as new political dispensations settle in across the country. We are uniquely positioned to work with all agencies of government to implement the economic development objectives in line with the policy direction of the new administration which leans heavily on the capital markets and financial services industry. We will navigate the undulating business landscape in the remaining half of the year by harnessing opportunities that economic reforms will present to the financial services sector towards increasing value delivery to all shareholders.”
United Capital Shareholders’ funds grew by 47% year-to-date to N48.54billion in HY 2023 compared to N32.99billion in FY 2022 largely attributable to increase in fair value reserve during the period under review.
