United Capital Growth and Performance Report

United Capital 47% Profit Margin % 56% Financial Review Operating expenses (N'billion) 52% 51% 1.77 1.73 CAGR 9% 2.34 2.3 Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2015 Q3 2016 Q3 2017 Q3 2018 Profit margin for Q3 2018 stood at 51.64% as against 52.47% recorded in Q3 2017. This slight decline in Profit Margin can be attributed to the decrease in revenue due to the drop in interest income compelled primarily by declining yield environment in 2018 when compared with the corresponding period last year. ✰ Operating Expenses fell 2% to N2.30billion in Q3 2018 as against N2.34billion in Q3 2017. This was majorly due to an 11% fall in other operating expenses. However, the operating expenses grew 9% CAGR www.unitedcapitalplcgroup.com 12

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