United Capital to leverage digital technology for new opportunities

United Capital Plc has assured shareholders that the firm would deploy robust digital technology to further unlock opportunities and stay ahead of trends in the industry.

At the firm’s 2023 yearly general meeting held in Abuja on Tuesday, the Group Chief Executive Officer, Peter Ashade, said the firm was committed to achieving a dynamic, efficient, and agile one-stop-shop financial institution.

Besides, shareholders at the meeting endorsed the company’s N10.8 billion total dividend, translating to N1.8 per share due to every investor of the company for the 2023 financial year.

According to Ashade, its 2024 objectives are centered around unlocking further opportunities to boost profitability and increase shareholders’ value on investment. “This institution will embody a digital-driven mindset, enabling us to deliver best-in-class services while ensuring superior shareholder value.

“As United Capital approaches its 6th decade in business, the company remains dedicated to creating value and fostering growth for all stakeholders.”

Reviewing its performance, the chairman of the company, Prof. Chika Mordi its total revenue grew by 71 per cent to N45.9 billion from N26.9 billion achieved in the corresponding period in 2022 while profit before tax surged by 28.2 per cent to N17.3 billion from N13.5 billion recorded in the previous year.

In addition, its gross earnings rose by 71 per cent to N45.90 billion in 2023, up from N26.90 billion in 2022, while operating expenses appreciated by 113 per cent to N29.28 billion in 2023, compared to N13.72 billion in 2022.

The Chairman added that total assets for the period stood at N931.95 billion, compared to N601.92 billion as of December 31, 2022, a growth of 55 per cent year-on-year, while shareholders fund amounted to N90.71 billion higher than N32.99 billion as of December 31, 2022.

He said the company would continue to deliver consistent returns to shareholders, expressing confidence in the unwavering resourcefulness and dedication of its staff.

National Coordinator of the Independent Shareholders Association of Nigeria, (ISAN), Moses Igbrude, lauded the smooth running of the affairs of the company, stressing the need for the firm to extend its business activities across sub-Saharan Africa to consolidate on its improved performance.