ga('create', 'UA-82078971-1', 'auto'); ga('require', 'displayfeatures'); ga('require', 'linkid'); ga('set', 'forceSSL', true); ga('send', 'pageview');

United Capital Declares N1.99b HY Profit

By Dipo Olowookere

United Capital Plc has released its unaudited half year financial statements to the Nigerian Stock Exchange (NSE) and it posted a pre-tax profit of N1.99 billion.

This was marginally lower than the N2.06 billion declared by the firm in the corresponding period of 2016.

During the period under review, the profit before tax of the company depreciated to N2.38 billion from N2.58 billion recorded a year ago.

However, the total revenue of United Capital closed at N3.88 billion on June 30, 2017, against N3.66 billion on June 30, 2016, indicating a growth in its turnover.

However, its net operating income during the period under review stood at N3.21 billion compared with N3.41 billion in the corresponding period.

According to the financial statements, the total expenses of the company as at June 30, 2017, was N1.5 billion in the negative, just like the N1.07 billion loss posted exactly 12 months ago.

During the period, total liabilities of the firm closed at N134.5 billion versus N146.5 billion a year ago, while the total shareholders’ fund was N14.6 billion from N14.2 billion in the half year of 2016, leaving the total liabilities and shareholders’ fund as at June 30, 2017 at N149.2 billion versus N160 billion in the corresponding period of last year.

United Capital Plc is a leading African financial and investment services group providing bespoke value-added service to its clients

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: