UAC of Nigeria Plc has released its audited full-year financial report for the period ended December 31st, 2019. The report showed that the conglomerate made a N9.2 billion loss. See the key highlights below.
UACN’s Revenue: The group’s revenue for the period stood at N79.2 billion as against N70.4 billion during the comparable period in 2018. This is indicative of a 12.4% increase, year on year. The company’s cost of sales, however, increased by 9.3% to N62.5 billion, up from N57.2 billion in 2018.
Profit Before Tax: for the period under review, UACN’s profit before tax stood at N7.4 billion, thereby marking a 22.7% increase compared to N6 billion in 2018.
Similarly, the group’s profit after tax from continuing operations increased by 26.1% to N5.3 billion, up from N4.2 billion during the preceding financial year.
Loss for period: However, UAC of Nigeria Plc reported a loss of N9.2 billion during the period under review. Note that the group had also ran at a loss of N9.5 billion in FY 2018.
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You may download the full report right here.
NOTE: This article has been updated in order to correct an error with the earlier version.