United Bank of Africa Pensions, Custodian Limited declares 64% growth of profit before tax
By Philemon Adedeji
United Bank of Africa Pension Custodian Limited has declared its audited result financial statement for the period ended 31, December 2021, declaring profit before tax which moved stronger by 64 per cent to N5.77 billion in full year of 2021.
From the released of Nigerian Exchange limited (NGX), profit after tax reported for the period significantly rose by 95 per cent to N3.901 billion in the preceding period of 2021 from N1.998 billion generated in the corresponding period of 2020.
However, according to the group audited result recorded indicates total income of N6.210 billion recorded in full year of 2020 to N7.141 billion recorded in the preceding period of 2021, United Bank of Africa pensions custodian Limited has recorded a 15 per cent total income during the twelve months ended 2021. This result released indicated a marginal rise of 15 per cent.
Basic and diluted earnings per share recorded for the period impressively increased by 95 per cent from 100 kobo in twelve months of 2020 to 195 kobo in twelve months of 2021.
From the audited result declared by the group, the group recorded total assets as growth total equity and total liabilities increased further.
The group total assets announced for the period revealed an increase of 35 per cent to N12.445 billion in the preceding period of 2021 from N9.192 billion in the corresponding period of 2020 audited results and accounts for the period ended 31, December 2021.
As total current assets appreciated by 34 per cent from N9.002 billion in twelve months of 2020 to N12.199 billion in twelve months of 2021, while non-current total assets grew by 30 per cent to N246.2 billion in 2021 from N190.1 billion in 2020.
The group reported gain of total equity to 27 per cent from N4.758 billion in the full year of 2020 to N6.059 billion in the full year of 2021.
In addition, the group reported current liabilities which rose by 44 per cent to N6.385 billion in preceding period of 2021 from N4.426 billion in the corresponding period of 2020.
From the audited result recorded by the group showed pensions assets under custody of N3.237 billion in twelve months of 2021 from N2.846 billion in previous period, this result reported reveals that, there is an increase of 14 per cent during the period.
