United Capital reports N11.9bn H1 profit, announces N5.4bn interim dividend

United Capital Plc has posted a profit after tax of N11.9 billion for the first half of 2025, representing a 54 per cent increase over the N7.74 billion recorded in the corresponding period of 2024.

The company disclosed the results in a corporate filing on Monday with the Nigerian Exchange Ltd.

Profit before tax rose by 52 per cent, climbing from N9.06 billion in H1 2024 to N13.79 billion, while gross earnings grew 57 per cent from N15.15 billion to N23.76 billion. Net operating income also advanced 67 per cent year-on-year to N21.32 billion compared to N12.76 billion in the same period last year.

Operating expenses increased by 49 per cent to N10.61 billion, up from N7.12 billion in 2024.

Group Chief Executive Officer Peter Ashade, commenting on the performance, expressed satisfaction with the company’s results:

“I am pleased to inform all stakeholders that United Capital Plc ended the first half of the year on a strong and positive note. Our remarkable earnings growth and solid performance across key financial metrics reflect our resilience, even in the face of macroeconomic headwinds and market volatility.

“Gross earnings rose by 57 per cent year-on-year to N23.76 billion, profit before tax climbed 52 per cent to N13.79 billion, profit after tax increased 54 per cent to N11.89 billion, and shareholders’ funds grew by 25 per cent year-to-date to N166.91 billion. This underscores the strength of our capital base and the trust our investors place in us.”

Ashade added that the results demonstrated the robustness of the company’s business model, the commitment of its workforce, and the effective implementation of its strategy.

“As we move into the second half of the year, we remain focused on sustaining this performance. With a solid foundation, clear strategic direction, and our Pan-African and retail operations fully engaged, United Capital is well-positioned to continue delivering superior returns and best-in-class solutions to all stakeholders,” he said.

Ashade further announced that the company will pay an interim dividend of 30 kobo per share on its 50 kobo ordinary shares, amounting to a total payout of N5.4 billion, with details to be communicated to shareholders shortly.