The management of United Capital Plc, on Monday presented its unaudited results for the nine months ended September 30, 2026, indicating that net profit paced faster than gross earnings.
A statement by Leo Okafor, the Company Secretary, noted that gross earnings rose to N62.47bn, up by 50% from N47.41bn reported in the corresponding period of last year; with net investment income doubling from N11.318bn to N22.03bn; fees and commission income closed in the nine months at N20.945bn from N16.54bn, while net trading income grew from N9.739bn to N12.603bn. Net operating income leaped to N55.578bn from N37.598bn. Other income stood at N266.301m, compared to the previous N1.473bn; just as net gain on financial assets at fair value through profit or loss increased to N6.62bn from N5.417bn.
Personnel expenses stood at N6.640bn from N5.104bn; other operating expenses rose to N15.686bn from N11.751bn, which among others boosted total expenses to N23.51bn from N18.396bn, leaving operating profit before income tax at N38.955bn from N23.144bn; while the N2.628bn share of accumulated profit of associates which rose from N1.869bn, resulted in profit before tax of N41.584bn from N25.014bn. Income tax expense jumped from N3.841bn to N6.752bn. Profit after tax for the period stood at N34.831bn from N21.172bn, representing a 65% increase, translating to Earnings Per Share of N2.58, up from N1.57 each, just as PBT margin improved from 50.22% to 66.57%.
Reacting to the score-card, the Group Chief Executive Officer, Peter Ashade, described the result as “remarkable,” and “impressive,” expressing that the company is “well-positioned to build on our momentum, driven by a continued focus on strong execution, sustainable growth, and long-term value creation for our shareholders.”
