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United Capital Plc Reports N6.37 Billion PBT – Up 95% from 2016 March 2, 2017

Lagos, Nigeria, 22 February, 2017 – United Capital Plc, a leading Investment Banking Group in Africa, announces 2016 full year earnings of N9.00 billion, up from N6.15 billion in 2015, representing a 46% increase from the previous year.

Profit Before Tax grew to N6.37 billion in 2016 from N3.27 billion in FYE 2015, representing a 95% increase. Profit for the period also grew by 169%, closing at N6.9 billion, up from N2.57 billion in 2015. In addition to this, United Capital’s Earnings Per Share (EPS) rose from 43 kobo (2015) to 115 kobo (2016) and dividend per share of 50 kobo against 35 kobo last year. This superlative performance in a year characterized by high volatility and uncertainty of key macro-economic indices, was driven by the Group’s growing market share, efficient execution of key mandates and effective cost management driven by improvements in operations and IT capabilities, thereby ensuring that we optimize value and retain a significant proportion of earnings.

“We continue to pursue our clear and consistent strategy, which has delivered a strong performance for shareholders, and we remain positive about our future opportunities within the Nigerian and African market, not-withstanding the challenging macro-economic environment,” stated Group Chief Executive Officer, Oluwatoyin Sanni.

Highlights of 2016 include successes in key business areas but are not limited to:

  • Appointed Issuing House and Trustee Services to key Debt Capital Issues for Sub-nationals and leading Corporate Issuers;
  • Impressive return on Asset growth by 116% and prudent investment management driving 31% growth in Investment income;
  • Development of an efficient structure to facilitate the issuance of NGN56.9bn payment security in the form of Bank Guarantees to the GenCos on behalf of NBET;

United Capital Plc remains committed to achieving our goal of building Africa’s Leading Investment Banking Group and to continue delivering service excellence across all of our business units in pursuit of our strategic objectives in 2017.