Shares of United Capital Plc were up +4.97 percent to N1.87 on Monday premarket news this afternoon that the company recorded another impressive results to start 2016 financial year. Its earning has been on the upward trajectory since it changed its name from UBA Capital in 2014.
The company has +10.69 percent year to date return (YTD RETURN) and +24.48 percent one year to date (1 YR RETURN), according to data from Bloomberg.
It is also up 12 percent this month since it bottomed at the N1.30 per share mark.
United Capital’s share price appreciation is connected with its 59.73 percent increase in net income to N1.13 billion in the first three months of the year. Gross earnings were up 42.30 percent to N1.85 billion in the period under review
The Nigerian based financial and investment Services Company said in March that its high networth clients are shunning equities clients and moving assets into fixed income to beat market uncertainty.