United Capital Plc has reported an 80 per cent year-on-year increase in its profit before tax (PBT) for the first half of 2026, driven by strong growth across its core business segments and disciplined execution of its strategic priorities.
According to the company’s unaudited financial statements filed with the Nigerian Exchange Limited (NGX) on Monday, profit before tax rose to N24.78bn for the six months ended June 30, 2026, compared to N13.79bn recorded in the corresponding period of 2025.
Gross earnings also recorded significant growth, increasing by 58 per cent to N37.49bn from N23.76bn in the first half of 2025.
Profit after tax climbed by 77 per cent to N21.10bn, up from N11.89bn recorded a year earlier. Annualised earnings per share also rose by 77 per cent to 234 kobo.
Following the strong financial performance, the company’s board approved an interim dividend of 30 kobo per share, translating to a total payout of N5.4bn to shareholders.
Group Chief Executive Officer of United Capital Plc, Peter Ashade, attributed the impressive results to the company’s resilient business model and effective execution of its growth strategy.
He said the performance reflected disciplined implementation of strategic priorities, prudent risk management, and a commitment to creating sustainable value despite the challenging operating environment.
Ashade also revealed that shareholders’ funds increased by 25 per cent year-to-date to N187.09bn, highlighting the strength of the company’s balance sheet.
Looking ahead, he said the company would focus on sustaining its growth by strengthening its market leadership, expanding its retail business, increasing its footprint across Africa, and delivering long-term value to investors.
Revenue growth was supported by strong performances across key business lines.
Net trading income recorded the highest increase, surging by 1,083 per cent to N4.96bn. Fee and commission income rose by 26 per cent to N14.28bn, while net investment income increased by 45 per cent to N13.81bn.
In addition, net gains on financial assets measured at fair value through profit or loss climbed by 132 per cent to N4.67bn.
Meanwhile, total operating expenses rose by 37 per cent to N14.53bn, compared to N10.61bn recorded in the corresponding period of 2025.
On its financial position, United Capital reported total assets of N1.64tn as of June 30, 2026, representing a seven per cent decline from N1.76tn recorded at the end of December 2025.
The company attributed the decline to a 20 per cent reduction in investment securities, despite recording a 40 per cent increase in cash and cash equivalents.
It also disclosed that total funds under management expanded by four per cent year-to-date to N1.04tn, reflecting continued investor confidence in its asset management business.
