By Adebayo Obajemu

United Capital Plc on Tuesday released its first quarter results for the three months ended 31, March, 2020.

In the unaudited financial statement, the firm recorded gross earnings of N1.92 billion, up by 32.23% when compared to N1.45 billion reported in the first quarter of 2019.

Profit before tax rose to N1.176 billion, up by 53.40% when compared to N766.87 million reported in Q1 2019.

Profit after tax grew by 53.89% to settle at N991.29 million, compared to N644.17 million reported in first quarter of 2019.

Earnings per share of the firm rose by 54% to 17 kobo from 11 kobo reported in the first quarter of 2019.

With reference to the share price of N2.23, the P.E ratio of United Capital stands at 13.12x with earnings yield of 7.62%



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