United Capital Plc records 16% rise in profit to N1.9 billion in H1 2020

United Capital Plc, yesterday, released its unaudited financial results for the half-year ended 30th June 2020. A copy of the report, which was released through the Nigerian Stock Exchange website, was obtained by Nairametrics. See the key highlights below:

Gross Earnings: Total revenue rose from N3.2 billion in half-year 2019 to N4.4 billion in half-year 2020, indicating a 37% appreciation year-on-year. Meanwhile, total expenses for the period stood at N2.2 billion, as against N1.3 billion during the comparable period in 2019.

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Net Operating Income: This grew by 45% year-on-year, up from N2.8 billion in half-year 2019 to N4.1 billion as of June 2020.

Profit Before Tax: United Capital’s profit before tax for half-year 2020 stood at N2.3 billion, marking a 14% increase when compared to N1.99 billion that was reported in half-year 2019.

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Profit After Tax: Profit after tax for the period rose by 16% year-on-year, from N1.6 billion in H1 2019 to N1.9 billion in H1 2020.

• Total Assets stood at N219.73 billion, appreciating by 46% YTD.
• Earnings Per Share:  32 kobo. (2019: 28kobo)

You may download the full report by clicking here.