United Capital FY’24 profit soars 111% to N24.10bn

United Capital Plc has announced its Audited Financial Results for the year ended December 31, 2024. Profit Before Tax (PBT) grew by 74 percent year-on-year to N30.10 billion, Profit After Tax (PAT) increased by 111 percent year-on-year to N24.10 billion, total asset rose by 83 percent year-on-year to N1.70 trillion while shareholders’ funds grew by 47 percent year-on-year to N133.50 billion.

While commenting on United Capital Group’s FY-2024 Audited Financial Statements, Chika Mordi, chairman, United Capital Plc said “United Capital Group held true to its philosophy of creating shared prosperity by delivering record profitability and significant corporate actions which culminated in increased total dividend payout to N14.4billion for the 2024 financial year, up 33 percent year-on-year from N10.8billion payout in 2023”.

“We will continue to strengthen governance frameworks across the Group to protect investors’ assets and sustain superior value delivery to our stakeholders well into the foreseeable future.

Also speaking on the Group’s performance, Peter Ashade, group chief executive officer, United Capital Plc said, “I am honoured to inform our stakeholders of the Group’s stellar financial performance during the financial year 2024. Despite the challenging business environment, the Group remained resilient and delivered record profitability as PBT rose 74percent to N30.10billion and PAT soared 111percent to N24.10billion.

Read also: United Capital Infrastructure Fund pays out N1.98bn in 2024 dividends

“As a testament to our strong market leadership and positioning, shareholders’ funds increased by 47percent year-on-year to N133.65 billion while total asset grew to N1.70 trillion, up 83 percent year-on-year. In a bid to strengthen and maximise stakeholder value in the recently concluded financial year, United Capital Group rewarded shareholders with bonus issuance of 2 additional shares for every 1 share held in addition to our first ever interim dividend payment of N0.90 kobo per share.”

“As we proceed into the 2025 financial year, we remain committed to rewarding our shareholders while sustaining this remarkable performance. We are poised to lead the Nigerian capital market and unlock new opportunities on the African continent. Finally, I sincerely appreciate our Customers, Shareholders, Technical Partners, Board of Directors, Management Team, Employees and Regulatory bodies for their unwavering support and contributions to our success and business growth,” he stated.