The United Capital Plc has recorded impressive margins, with
its Gross Earnings rising by 49% year-on-year to N26.90 billion, and PBT rising
by 13% year-on-year to N13.50 billion. The company also recorded 33%
year-on-year growth in Total Assets to the tune of N601.92 billion while
Shareholders’ Funds increased by 8% year-on-year to N32.99 billion.
Commenting on the Group’s remarkable performance, the Group
Chief
Executive Officer, Mr. Peter Ashade, had this to say:
“During the year 2022, we navigated a difficult terrain to sustain our earnings
growth and deliver decent returns to shareholders while strengthening our
organizational resilience to factors militating against business growth,
particularly in emerging economies.
Our operating environment despite the undulating landscape
continues to present windows of opportunities for all our businesses in the
locations we operate. This is accentuated by the 49% growth in revenue to
N26.90 billion which helped offset increased operating expenses resulting from
very high inflation and severely impacted macroeconomic environment which we
anticipated in Q4-2022.
We remain upbeat about sustaining our performance in 2023
having kicked off the year in a robust financial position with close to
N1trillion funds under management comprising trusts, mutual funds, and other
professionally managed investments for our clients across diverse segments.
The Group is better positioned to deliver on our growth
objectives while remaining competitive and sustainably profitable. We will
continue to prioritize activities that create and preserve value for all our
stakeholders into the foreseeable future.”
The report further disclosed that for United Capital Plc,
the fiscal year under review also marked the beginning of a new corporate
strategy cycle poised to propel the company to new heights – a strategy that
has already begun to yield results, as evidenced by its financial performance,
pan-African footprints, expansion into global markets, and strategic
partnership with two leading Swiss investment banks.
Furthermore, United Capital Plc was also recognized by
Financial Times as one of Africa’s Fastest Growing Companies and received the
2022 Sectorial Leadership Award (Financial Services – Other Financial
institutions) at the 2022 Pearl Awards.
“The company is already on an accelerated path to success in
the new year. The
Central Bank of Nigeria has granted the company a
microfinance banking license, allowing it to expand its business activities
(and potential earnings) even further.
0 comments:
Post a Comment