Skip to main content

United Capital’s profit up by 61% to N7.95 billion

Stock exchange
Nigerian Stock Exchange

United Capital Plc, has recorded 61 per cent growth in Profit Before Tax, PBT to N7.95 billion   for the year ended December 2020 from N4.95 billion in 2019.

Consequently, the company recorded a 57 per cent increase in   Profit After Tax, PAT   which rose to   N7.81 billion N4.97 billion in 2019.

The marked increase in profitability was inspired by a 50 percent growth in gross earnings which rose N12.87 billion in 2020, from   N8.59 billion in   2019.  

 

READ ALSOFinance Bill 2020 to check inflation – Minister

Furthermore, United Capital recorded a 48 per cent increase in total assets   to N224.75 billion in 2020 from   N150.46 billion in the 2019; while shareholders’ funds grew to N24.43 billion rising by 25 per cent from 19.59 billion a year earlier.

Consequently,   the Directors of United Capital have proposed a dividend of 70 kobo per share, amounting to a total of N4.2 billion dividend to be paid upon ratification by shareholders at its forthcoming Annual General Meeting, AGM. The 70kobo dividend per share, which is higher than the 50k per share declared in 2019, is payable to shareholders whose names appear on the Register of Members at the close of business on March 5, 2021.

The Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, expressed delight on the performance, which according to him is cheering news despite the challenges that most companies faced in the year 2020.  

He said, “I am pleased to inform all stakeholders that United Capital delivered impressive returns amid the unprecedented environment worsened by the pandemic during the 2020 financial year with remarkable double-digit growth in revenue, PBT and PAT and solid performance across key business parameters.

“This empowers us to adopt a more positive outlook for the year 2021 as we navigate the tough terrain compounded by a second wave of the COVID-19 pandemic among other severe economic challenges,” Ashade noted.

The post United Capital’s profit up by 61% to N7.95 billion appeared first on Vanguard News.


https://ift.tt/3sqBTfv by Urowayino Jeremiah via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

Forum of retired Heads of Service, Permanent Secretaries donate N500,000 to Edo COVID-19 fund

Urges residents to complement govt’s efforts to check spread The Edo Forum of Retired Heads of Service and Permanent Secretaries has donated N500,000 to boost the Edo State Government’s response to check the spread of coronavirus disease (COVID-19) in the state. Chairman of the forum, Mallam Ikhelowa Atalasa Hanson, who made the presentation at Government House, Benin City, said the donation will complement the state government’s effort in deploying resources to fight against the spread of the virus. Ikhelowa said as a body, the retired heads of service and permanent secretaries tasked themselves to support the state government’s unalloyed commitment to protecting Edo people. READ ALSO:  COVID-19: Edo records 60 new cases as govt calls for caution On his part, Vice Chairman of the forum, Sir Xerxes Usiobaifo urged residents in the state to comply with all regulations from Nigeria Centre for Disease Control (NCDC) and the state government, noting that COVID-19 is real. He ur...
Post a Comment
Read more