United Capital reports 89% surge in nine-month profit

Financial and investment services company United Capital Plc said its net profit for the year to September jumped by 88.7 per cent, compared to the same period of last year, according to its earnings report issued on Wednesday.

Revenue for the group, whose operations include investment banking, mergers & acquisitions, project finance, microfinance and asset management among others, enlarged by more than three-fifths to N28.2 billion.

It achieved the sharp top-line growth, thanks to a major boost to fee & commission income and exchange gains.