The stock price of United Capital Plc has inflated immensely by thirty-one percent from July’s closing price and arrived at N17 as of August 21st, 2024. This incredible gain cements its status as possibly the third most profitable equity so far this year, standing behind only Geregu Power Company and Presco Plc.
The shares peaked at N13 on July 19th, 2024, but got tremendous sell-offs leading them down to N10 on July 31. However, shares made an impressive comeback amid a market volume that stood at 8 million during August.
For the year-to-date period, share prices for United Capital have gone up by 121% against several competing companies in the same industry. Their competitors include Geregu Power Company, which has had respective increases of 150%, while Presco took the lead with an increase of 151%.
The impressive Q2 results of the company helped its stock price to surge. The total revenue of N15 billion grew by 37.52 percent compared to last year, whereas pre-tax profit soared to N9 billion with an increase of 63 percent, thus indicating a huge leap in earnings per share from N1.56 to N2.58.
The financial position of United Capital can be seen in its cash growth, which amounts to 240% on a year-on-year basis, at N494 billion. In the same vein, all assets increased by 27% compared with last year during this period.
In terms of shareholders’ benefits, the institution delivered interim dividend payments of N0.91 per share, amounting to a total distribution of N5.4 billion paid out to registered members as of July 31st.
