United Capital records N9.118bn revenue in H1’22

United Capital has recorded revenue of N9.118 billion in the first half of 2022 financial year. The amount represents an increase of 32.92 per cent compared with N6.854 billion recorded in the comparable period of 2021.

The company with the period reported profit before tax of N4.436 billion from N3.740 billion made in the preceding year, representing a growth of 40.20 per cent.

According to result, the company paid income tax of N808.0 million against N598 million paid in the same period of 2021 bringing the profit after tax to N4.346 billion from N3.142 billion, with gain of 40.19 per cent.

An analysis of the company result showed that Investment income up by 9.18 per cent to N3.990 billion from N3.655 billion, fee and Commission income increased by 23.86 per cent from N3.119 billion achieved in the preceding period to N3.863 billion while net trading income grew to N262 million from N38 million representing 586.12 per cent.

Net operating income went up to 19.14 per cent to N8.115 billion from N6.811 billion.

The company total assets increased by 17.24 per cent to N531.791 billion from N453.598 billion in the preceding year while Total liabilities rose by 19.43 per cent to N505.265 billion from N423.051 billion reported in the previous half year result in 2021.