United Capital Plc delivered another strong half-year performance as profit after tax rose by 77 percent to N21.10 billion for the six months ended June 30, 2026.
The pan-African investment and financial services group also announced an interim dividend of 30 kobo per ordinary share, representing a total payout of N5.4 billion.
Gross earnings increased by 58 percent to N37.49 billion, compared with N23.76 billion recorded in the corresponding period of 2025, while profit before tax climbed 80 percent to N24.78 billion. Earnings per share improved to 234 kobo from 132 kobo a year earlier.
The strong earnings performance was supported by broad-based growth across the company’s major income lines.
Fee and commission income rose to N14.28 billion from N11.35 billion, while net investment income increased to N13.81 billion from N9.55 billion.
Net trading income recorded the sharpest improvement, surging to N4.96 billion from N419.44 million in the first half of 2025.
The company also reported a substantial increase in gains on financial assets measured at fair value through profit or loss
Although operating expenses rose during the period, the increase was outweighed by stronger revenue generation.
Total expenses stood at N14.17 billion, compared with N11.12 billion a year earlier, allowing operating profit before tax to advance to N23.32 billion from N12.64 billion.
On the balance sheet, total assets closed the period at N1.64 trillion, while managed funds increased to N1.04 trillion, reflecting continued growth in assets under management.
Shareholders’ funds expanded by 25 percent to N187.09 billion, supported by higher retained earnings and growth in fair value reserves.
The company also strengthened its liquidity position, with cash and cash equivalents rising to N400.80 billion from N287.10 billion at the end of 2025, even as investment securities declined as part of portfolio repositioning. Loans and advances increased to N77.10 billion from N68.78 billion.
Commenting on the results, Group Chief Executive Officer Peter Ashade said the performance reflected disciplined execution of the company’s strategic priorities, the resilience of its diversified business model and prudent risk management.
He added that United Capital remains focused on expanding its retail business, strengthening its presence across Africa and delivering sustainable long-term value to stakeholders.
For investors, the results reinforce United Capital’s ability to generate consistent earnings growth despite a challenging operating environment.
The combination of strong profitability, expanding shareholders’ funds and an interim dividend underscores the group’s continued focus on balancing growth with shareholder returns.
