United Capital Plc has launched its first quarter ended March 31, 2025, reporting a revenue earlier than tax (PBT) of N6.7 billion, representing a 64.51% year-on-year (YoY) development.
Gross earnings greater than doubled, rising by 113% YoY to N13.10 billion.
Notably, this already accounts for over 30% of the Group’s full-year gross earnings in 2024, indicating a robust begin to the 12 months.
CEO’s Remarks:
Commenting on the efficiency, Group CEO, Mr. Peter Ashade, said:
“This efficiency displays our unwavering dedication to creating wealth, remodeling lives, and rising shareholders’ worth.”
He additional emphasised the function of a robust enterprise mannequin and purpose-driven execution in reaching these outcomes.
Income drivers
A deeper dive into the income parts reveals the topline development was broad-based and anchored on three key streams:
- Funding earnings surged by 491.28% YoY to N6.408 billion
- Charges and fee earnings rose by 71.71% YoY to N4.461 billion
- Internet buying and selling earnings grew by 138.13% YoY to N1.505 billion
This important income development helped cushion the impression of rising prices, making certain a strong backside line.
Profitability and prices
Regardless of a pointy 209.49% enhance in whole bills to N6.994 billion, pushed primarily by a 138% surge in different working bills, which made up over 72% of whole prices, the Group managed to maintain profitability development.
- Revenue after tax climbed by 64.33% YoY to N5.89 billion, and annualized EPS improved to N1.31, up 63.75% YoY.
Stability sheet highlights
United Capital’s whole property stood at N1.72 trillion as of March 31, 2025, representing a marginal 1% enhance from the N1.70 trillion reported on the finish of December 2024.
The Group attributed this modest development primarily to a 6% enhance in funding securities in the course of the interval, reflecting continued enlargement of its funding portfolio.
On the liabilities aspect, the Group recorded a 6% discount in borrowed funds alongside a notable 54% decline in different liabilities. These reductions contributed to a slight 1% lower in whole liabilities, which fell from N1.58 trillion in December 2024 to N1.57 trillion by the top of Q1 2025.
In distinction, a extra important space of development was seen in shareholders’ fairness. Shareholders’ funds rose by 21% inside the three-month interval to N161.52 billion, pushed largely by a 37% enhance within the honest worth reserve signaling improved valuation of economic property and stronger capital positioning.
Share worth efficiency
United Capital’s share worth seems to be on a restoration path. It closed at N18.25 on April 29, 2025, posting a Yr-to-Date (YtD) lack of 10.5%, an enchancment from the 19.21% decline recorded in Q1 2025 and the 11% full-year loss in 2024.
Outcomes perception
United Capital’s Q1 2025 outcomes show sturdy earnings momentum, pushed by diversified earnings streams and efficient steadiness sheet administration.
The corporate’s Q1 efficiency suggests it may possibly scale revenues aggressively, significantly from funding earnings and buying and selling actions, regardless of a high-cost setting.
The numerous development in shareholders’ fairness, coupled with a robust ROE and bettering EPS, means that United Capital is effectively positioned to ship worth to buyers by the remainder of the 12 months.
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