United Capital reports N3.26bn PBT

United Capital plc, an investment banking and financial services group, has announced 2015 full-year earnings of N6.15 billion, up from N4.68 billion in 2014, representing a 32 percent increase from the previous year.

Profit before tax (PBT) grew to N3.26 billion in 2015 from N2.31 billion in FYE 2014, representing a 41 percent increase. Profit after tax (PAT) also grew by 39 percent in 2015, closing at N2.57 billion, up from N1.85 billion in 2014.

This performance in a year characterised by adverse macro-economic factors was driven by the Group’s growing market share, efficient execution of key mandates and effective cost management driven by improvements in operations and IT capabilities, thereby ensuring that it optimised value and retained a significant proportion of earnings.

“We continue to pursue our clear and consistent strategy, which has delivered a strong performance for shareholders, and we remain positive about our future opportunities within the Nigerian and African market, not-withstanding the challenging macro-economic environment,” Oluwatoyin Sanni, group CEO, said.

Highlights of 2015 successes in key business areas include but are not limited to: Structuring bank/facility agent on $250 million pre-export finance for Orion Oil – one of the largest debt deals by a Pan-African investment bank in 2015;

Issuing House and Trustee Services to key Debt Capital Issues for Sub-nationals and leading Corporate Issuers; Impressive Asset growth by 51 percent and prudent investment management driving 84 percent growth in Investment income.

Others are appointment as Joint Fund Manager for the KfW-sponsored $30 million African Local Currency Bond fund;

Superior returns by our Mutual Funds which all ranked top three for investment return in their respective categories which our Balanced Fund being the highest performing in that category and our Bond Fund and Money Market Funds both ranking second industry-wide.