United Capital Plc started the 2020 business year with a well-rounded performance in the first quarter as the investment banking group recorded double-digit growths in all key performance indices.
Key extracts of the interim report and accounts of United Capital for the three-month period ended March 31, 2020 releasedy at the Nigerian Stock Exchange (NSE) showed that gross earnings rose by 32 per cent while pre and post tax profits grew by 53 per cent and 54 per cent respectively.
Gross earnings rose to N1.92 billion in first quarter 2020 compared with N1.45 billion in first quarter 2019. Operating income rose by 40 per cent from N1.35 billion in 2019 to N1.89 billion in 2020. Profit before tax increased from N766.87 million in first quarter 2019 to N1.18 billion in first quarter 2020. After taxes, net profit rose from N644.17 million in first quarter 2019 to N991.29 million in first quarter 2020. Earnings per share for the three-month period thus increased from 11 kobo in 2019 to 17 kobo in 2020.
Key extracts of the interim report and accounts of United Capital for the three-month period ended March 31, 2020 releasedy at the Nigerian Stock Exchange (NSE) showed that gross earnings rose by 32 per cent while pre and post tax profits grew by 53 per cent and 54 per cent respectively.
Gross earnings rose to N1.92 billion in first quarter 2020 compared with N1.45 billion in first quarter 2019. Operating income rose by 40 per cent from N1.35 billion in 2019 to N1.89 billion in 2020. Profit before tax increased from N766.87 million in first quarter 2019 to N1.18 billion in first quarter 2020. After taxes, net profit rose from N644.17 million in first quarter 2019 to N991.29 million in first quarter 2020. Earnings per share for the three-month period thus increased from 11 kobo in 2019 to 17 kobo in 2020.