UAC Group reported revenues of N40billion for the first half of 2014. The results is a 7.7% rise from the N37.3billion posted in the same period in 2011. Gross profit however fell 2.7% to N9.1billion as higher cost of sales took out 78% of sales. Operating profit dropped 16% to N3.7billion following a rise in operating expenses year on year. Pre-tax profits was relatively flat at N5billion on the back of strong income from other sources. Income from other sources was N2.8billion 68% higher than the N1.3billion reported a year earlier. UAC depends a lot on income from non core operating sources to drive up profitability margins.
Quarter on Quarter results
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