United capital posts 43.43% net interest margin growth Q1 2016
Cross section of capital market experts have reacted to first quarter result of United Capital Plc for the period ended 31 March 2017, describing it result spurred by resilience amidst countrywide operating challenges.
United Capital Plc result for the first quarter 2017 periodic filing period, experts say, demonstrated commitment to delivering more value to shareholders in the prevailing financial year.
The company’s Q1 result released by the Nigerian Stock Exchange (NSE) on Wednesday showed growth trajectory in key measuring indices , even as macroeconomic challenges persists.
The result showed that gross Earnings grew by 13.82 per cent to N2.11 billion, against N1.86 billion posted in the corresponding quarter 2016, Net Interest Margin soared by 43.43 per cent to N373.97 million from N260.73 million in Q1 2016, while other Income rose by 178.95 per cent to N265.67 million in first quarter 2017, from N95.24 million in Q1 2016.
United capital closed trade yesterday at N2.80 per share, attained a 52 weeks high of N4.06 per share and low of N1.29 per share during the period.
The company’s Q1 2017 result showed that investment Income increased to N1.06 billion from N947.55 million in Q1 2016, reflecting Q/Q growth of 11.64 per cent.
Net Operating Income increased to N1.84 billion, from N1.76 billion in Q1 2016, a 4.58 per cent growth.
United Capital Total revenue in Q1 increased to N2.11billion, from N1.86 billion in preceding period, reflecting 13.82 per cent increase.
Meanwhile, Fee and Commission Income dropped by 25.97 per cent to N407.81 million, from N550.89 in Q1 2015, while Profit/Loss Before Tax closed the period at N1.40 billion, from N1.42 billion in Q1 2016.
