United Capital Plc reported a pre-tax profit of N41.18 billion for the year ended 31 December 2025, according to its audited financial statements released on the Nigerian Exchange Limited.
The figure represents a 36.81% increase from N30.10 billion recorded in 2024, with total revenue reaching N58.5 billion, up 34.81% year-on-year.
Total assets stood at N1.76 trillion compared to N1.70 trillion a year earlier, while retained earnings increased to N53.1 billion from N39.7 billion.
The board proposed a final dividend of N0.70 per share totaling N12.6 billion, payable to shareholders on the register as at 3 April 2026, subject to tax and AGM approval.
Key Highlights
- Revenue: N58.54 billion (up 34.81% YoY from N43.43 billion)
- Gross profit: N58.55 billion (up 34.81% YoY from N43.43 billion)
- Operating profit: N39.31 billion (up 43.08% YoY from N27.47 billion)
- Pre-tax profit: N41.18 billion (up 36.81% YoY from N30.10 billion)
- Profit after tax: N28.14 billion (up 16.78% YoY from N24.10 billion)
- Earnings per share: N1.56 (up 16.42% YoY from N1.34 kobo)
- Total assets: N1.76 trillion (up 3.51% YoY from N1.70 trillion)
Driving the numbers
Revenue growth was driven mainly by fee and commission income, which rose to N23.25 billion from N14.58 billion, reflecting increased activity across key business segments.
- Of this total, management fees accounted for N10.7 billion, while financial advisory and brokerage fees contributed N4.9 billion and N4.8 billion, respectively, with trustee fees adding N1.4 billion.
- Investment-related income also supported performance, as net income from investments stood at N12.6 billion and net trading income reached N17.6 billion, lifting net operating income to N53.5 billion, up 46.44%.
- After recording other losses of N11.42 billion and net gains of N16.4 billion, total revenue settled at N58.5 billion, representing a 34.80% year-on-year increase.
On the cost side, operating expenses rose to N20.37 billion from N10.83 billion, while personnel expenses increased moderately to N5.6 billion from N5.34 billion.
- Despite higher costs, revenue growth outpaced expense expansion, resulting in a 43.08% increase in operating profit.
- On the balance sheet, total assets grew to N1.76 trillion, supported largely by investment securities which expanded to N1.34 trillion.
- Borrowed funds declined to N372.30 billion, while managed funds increased to N993.64 billion from N846.60 billion, contributing significantly to total liabilities of N1.6 trillion.
Shareholders’ funds stood at N149.9 billion at year-end, up from N133.5 billion in the previous year, reflecting growth in the Group’s equity base.
Market reaction
As of mid-trading on 2 April 2025, shares of United Capital Plc are priced at N18.95, down 1.8% on the day.
On a year-to-date basis, the stock has gained 1.3%, based on trading data from the Nigerian Exchange Limited.
Market participants are expected to monitor subsequent trading sessions for any reaction to the company’s full-year results.
