UAC of Nigeria Plc released its 2014 Q1 results posting N19.8billion in revenues a 4% rise YoY. Pre-tax profits also rose to N2.6billion for the quarter representing a 36% increase over the same period last year.
Key Take outs
- Organic margins were relatively flat this quarter. Operating profit margins (without other income) and gross profit margins all remained unchanged.
- The game changer again is with other income which rose 152% to N1.2billion. In their 2013 annual report other income comprised of sale of investment property.
- Balance sheet still looks strong with a hefty working capital of N5.3billlion available for the company to finance its operations