United Capital Plc, a leading African, financial and investment service group with the goal to be the financial and investment role model across Africa. The company has the purpose of transforming the African continent by providing innovative investment banking solutions to governments, companies and individuals.
The financial and investment company has recently released its audited result for the year ended December 31 2019. The result shows a growth of 15 percent in its Profit After Tax (PAT), the PAT growth was however powered by the companies tax management strategy, which led to deferred tax liability write back in 2019.
Here are the highlight of the United Capital 2019 full year audited result
- Revenue declined by 7 percent to N8.59bn from N9.26bn in Q4 2018
- Investment Income also down by 3 percent from N5.18bn to N5.01bn in Q4 2019
- Fees and Commission Income up by 3 percent from N1.90bn to N1.96bn in Q4 2019
- Net Trading Income down by 38 percent from N126.5m to N78.7m in Q4 2019
- Other Income also down by 24 percent from N2.04bn to N1.55bn in Q4 2019
- Total Expenses up by 20 percent to N3.64bn from N3.04bn in Q4 2018
- Profit Before Tax (PBT) down by 20 percent to N4.95bn from N6.22bn in Q4 2018
- Profit After Tax (PAT) up by 15 percent from N4.34bn to N4.97bn in Q4 2019
For the financial position of the company:
- Total Asset was up by 1.2 percent from N148.7bn to N150.46bn in Q4 2019
- Liability was down by 1.5 percent from N132.86bn to N130.88bn in Q4 2019
- Shareholder’s funds however increased by 23 percent from N15.83bn to N19.59bn in Q4 2019
Earning per Share in the released United Capital 2019 result increased 15 percent fro 72 kobo to 83 kobo per share in 2019 Q4.