United Capital Plc has reported a significant jump in earnings for the first half of 2026, with the pan-African investment and financial services group recording strong growth across key areas of its business.
The company announced that profit after tax reached N21.10 billion for the six months ending June 30, 2026, representing a 77 percent increase compared with the same period last year.
Shareholders Set to Receive N5.4 Billion Interim Dividend
Alongside its impressive financial performance, United Capital rewarded investors with the declaration of an interim dividend of 30 kobo per ordinary share.
The payout translates to a total dividend distribution of N5.4 billion, highlighting the company’s commitment to maintaining shareholder returns while continuing its growth strategy.
Revenue Growth Drives Stronger Earnings Performance
The company’s gross earnings climbed sharply during the period, rising 58 percent to N37.49 billion from N23.76 billion recorded in the first half of 2025.
Profit before tax also experienced significant growth, increasing by 80 percent to N24.78 billion.
Meanwhile, earnings per share improved to 234 kobo, compared with 132 kobo in the previous year’s corresponding period.
United Capital attributed the performance to strong contributions from its various business segments, with multiple income streams recording positive growth.
Trading Income Records Major Leap
Among the company’s income sources, net trading income delivered the most dramatic improvement.
The figure surged to N4.96 billion during the review period, compared with just N419.44 million in the first half of 2025, reflecting stronger performance from investment activities.
Fee and commission income also increased, reaching N14.28 billion from N11.35 billion, while net investment income rose to N13.81 billion from N9.55 billion.
The company also recorded notable gains from financial assets measured at fair value through profit or loss, further supporting overall profitability.
Rising Expenses Offset by Strong Revenue Growth
Despite higher operating costs, United Capital maintained its momentum as revenue growth significantly outpaced expense increases.
Total expenses rose to N14.17 billion from N11.12 billion a year earlier.
However, the stronger income performance helped operating profit before tax increase to N23.32 billion, compared with N12.64 billion in the previous year.
The results demonstrate the company’s ability to manage costs while expanding its earnings capacity.
Assets and Managed Funds Continue to Expand
United Capital’s balance sheet also strengthened during the period, with total assets reaching N1.64 trillion.
The group reported growth in managed funds, which increased to N1.04 trillion, reflecting continued expansion in assets under management and investor confidence in its financial services offerings.
Shareholders’ funds rose by 25 percent to N187.09 billion, supported by improved retained earnings and increased fair value reserves.
Strong Liquidity Position Supports Future Growth
The company ended the period with a stronger liquidity position, as cash and cash equivalents climbed to N400.80 billion from N287.10 billion at the end of 2025.
United Capital also reported an increase in loans and advances, which rose to N77.10 billion from N68.78 billion.
Meanwhile, investment securities declined as part of strategic portfolio adjustments.
CEO Highlights Strategy and Long-Term Growth Plans
Commenting on the results, United Capital Group Chief Executive Officer Peter Ashade said the performance reflected the company’s disciplined execution of its strategic objectives, diversified business structure, and focus on effective risk management.
He noted that the group would continue expanding its retail operations, strengthening its footprint across Africa, and creating sustainable value for stakeholders.
Strong Results Reinforce Investor Confidence
For investors, United Capital’s latest figures underline the company’s ability to deliver consistent growth despite economic challenges.
The combination of higher profitability, stronger capital position, improved liquidity, and continued dividend payments signals the group’s ongoing commitment to balancing expansion with attractive returns for shareholders.
