United Capital PLC reports 131.6% surge in pre-tax profit for third quarter of 2024 

This represents a 131.61% year-over-year surge in pre-tax profit, bringing the total for the nine months ended September 30, 2024, to N18.7 billion—an impressive 92.7% increase compared to the same period in 2023.

United Capital’s Q3 revenue soared 100.47% YoY to N13 billion, up from N6.4 billion the previous year, while earnings per share (EPS) jumped 118.25% to N5.50.

United Capital recorded impressive growth in the third quarter of 2024, with total revenue for the period climbing to N13 billion, reflecting a 100.47% year-over-year increase from N6.4 billion in the same quarter of 2023.

The company’s fee and commission income also surged, jumping 102.70% YoY to N4.2 billion, depicting increased transactional activity. However, total expenses increased by 77.83% to N4.4 billion.

Despite the rise in expenses, pre-tax profit soared by 131.61% YoY, reaching N9.6 billion, up from N4.1 billion in Q3 2023. This brought United Capital’s cumulative pre-tax profit for the first nine months of the year to N18.7 billion, reflecting a 92.7% YoY increase.

Post-tax profit saw significant growth, rising 118.14% year-over-year to N8.2 billion in Q3 2024. Additionally, the company’s earnings per share (EPS) jumped to N5.50, up from N2.52 recorded in the same period last year.