The financial results for United Capital Plc’s fiscal year that ended on December 31, 2022, have improved.
According to a breakdown, the company’s total earnings increased by 49% on a yearly basis to N26.90 billion, while its profit before taxes (PBT) increased by 13% on a yearly basis to N13.50 billion.
Even while shareholders’ funds increased by 8% annually to N32.99 billion during the period under review, it also saw a 33% year-over-year growth in total assets, totaling N601.92 billion.
As a result, the company approved a dividend of N1.50 per ordinary share valued at 50 kobo held by shareholders.
Peter Ashade, group chief executive officer, commented on the performance as follows: “During the year 2022, we navigated a difficult terrain to sustain our earnings growth and deliver decent returns to shareholders, while strengthening our organisational 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 per cent 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 the fourth quarter of 2022.”
“We remain upbeat about sustaining our performance in 2023, having kicked off the year in a robust financial position with close to N1 trillion 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 prioritise activities that create and preserve value for all our stakeholders into the foreseeable future.”
