United Capital Grows Gross Earnings By 113% To N13.10bn In Q1

United Capital Plc has posted gross earnings growth of 113 per cent year-on-year to N13.10 billion in its unaudited financial results for the period ended March 31, 2025.

The Company’s Q1 results released to the investing public on the Nigerian Exchange (NGX) showed an outstanding start to the year.

During the period under review, profit before tax rose by 65 per cent year-on-year to N6.73 billion while profit after tax increased by 64 per cent year-on-year to N5.89 billion. This remarkable performance was driven by 113 per cent growth in gross earnings.

Net operating income stood at N12.37 billion in Q1 2025, compared to N4.30 billion in Q1 2024, while operating expenses grew by 114 per cent to N6.68 billion in Q1 2025 from N3.13 billion in Q1 2024
Total assets increased by to N1.72 trillion in March 2025 compared to N1.70 trillion in December 2024, majorly driven by six per cent growth in investment securities during the period; while shareholders’ funds rose by 21 per cent year-to-date to N161.52 billion as of March 2025, up from N133.50 billion in December 2024, largely due to a 37 per cent increase in the fair value reserve during the period.

Speaking on the Group’s performance, the Group chief executive officer of United Capital, Mr. Peter Ashade said, “United Capital Group achieved an exceptional performance in the first quarter of the year. Gross earnings grew by 113 per cent to N13.10 billion, which represents the Group’s leadership position in the capital market sector and commitment to the continuous improvement of stakeholders’ wealth.”
He stated that this performance reflects our unwavering dedication to creating wealth, transforming lives and increasing shareholders’ value.”

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Ashade explained that “during the period under review, profit before tax rose by 65 per cent year-on-year to N6.73 billion, profit after tax grew by 64 per cent year-on-year to N5.89 billion, while shareholders’ funds rose by 21 per cent year-to-date to N161.52 billion. These results highlight the strength of our business model, effective execution of our transformative and purpose-driven strategy.”
Going into the remaining quarters of the year, he stated, “we are confident that through the diligent execution of our well-thought-out strategies, we are on track to attain new heights.

“Our stakeholders can be rest assured of our resolve to continue to deliver excellent services while staying true to our global commitment to achieve a net-zero world.”