United Capital Plc has reported its strongest half-year earnings in at least nine years, with after-tax profit rising 54 percent to N11.9 billion in the first half of 2025 from N7.73 billion a year earlier, according to data compiled by BusinessDay.
The investment firm’s gross earnings rose 57 percent to N23.76 billion, powered by a more than twofold increase in investment income to N9.55 billion and an 80 percent jump in fee and commission income to N11.35 billion. These gains reflect stronger activity across its asset management, investment banking, and trustee businesses.
However, net trading income dropped sharply to N419.4 million from N1.76 billion in the same period last year, signalling weaker performance in securities trading. Operating expenses climbed 67 percent to N11.12 billion, driven by higher personnel and administrative costs, but revenue growth outpaced the rise in expenditures.