United Capital records N3.12bn revenue in Q1


United Capital

United Capital Plc has announced a 63 percent growth in gross earnings to N3.12 billion in the first quarter (Q1) ended March 31, 2021, compared to N1.92 billion in Q1 2020.

The unaudited financial statement of the company for the period showed that it grew its Profit Before Tax (PBT) to N1.97 billion in Q1 2021, compared to N1.18 billion in the same period in 2020, indicating a 68 percent year-on-year (Y/Y) growth.

The company’s earnings per share also rose to 111 kobo from 66 kobo in Q1’20.

Commenting on the results, Mr. Peter Ashade, Group CEO, United Capital, said: “I am pleased to inform all our stakeholders that United Capital Plc has commenced the first quarter of the year from a stable position with remarkable earnings growth and strong performance across key financial parameters even as we continued to navigate the tough terrain which at the moment, points to a recovery in the domestic economy amid other improving global macroeconomic developments.

“With our…

Source: Vanguard Newspaper