UAC of Nigeria PLC has released its financial statements for the year ended December 2017.
The report shows an 8% increase in revenue from ₦82.6 billion recorded in 2016 to ₦89.18 billion recorded in 2017.
The report also shows a profit before tax of ₦3.25 billion as against ₦8.37 billion recorded in 2016.The company has also proposed a final dividend of 65kobo for the year ended December 2017.
UAC was first incorporated in Lagos, Nigeria under the name Nigerian Motors Ltd on April 22, 1931, as a wholly-owned subsidiary of the United Africa Company Ltd. (a subsidiary of Unilever), which later became UAC International.
The Company’s name was changed to United Africa Company ( Nigeria ) Ltd on 23rd July 1943.
In 1994, following the divestment of 40% interest in the Company by Unilever PLC, the Company became a wholly-owned Nigerian Company
The company is a diversified conglomerate with interest in several portfolios including:
- Food and beverages which operates under the UAC foods limited and manufactures packaged snacks, fruit juice, ice-cream, and bottled spring water.
- Other subsidiaries include UACN Property Development Company, MDS Logistics, and UAC Restaurants Limited.
Popular brand portfolios include leading brands such as Gala Sausage Roll, Mr. Biggs, Funtime Coconut Chips, Supreme Ice cream, Swan Natural Spring Water, Dulux, Grand Soya Oil, Grand Groundnut Oil, Vital Feeds, and Livestock Feeds.
Here is a copy of the report.