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UACN of Nigeria Plc records 10.49% increase in 2020 Q3 revenues

UACN of Nigeria Plc – a diversified company records a 10.49% increase in revenues in 2020 Q3.

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UACN, UAC Nigeria’s Dividend Payment Might Not Be Worth The Struggle

United Africa Company of Nigeria Plc (UACN) – a diversified company, has recorded a 10.49% increase in its Q3 2020 revenues. The company recorded revenues of N21.16 billion in Q3 2020 compared to the N19.15 billion recorded in the same period in 2019.

Key highlights for 2020 Q3

  • Revenues increased to N21.16 billion, +10.49% YoY.
  • Revenues from animal feed and other edibles increased to N13.59 billion, +10.00% YoY.
  • Revenues from paints increased to N2.96 billion, +18.02% YoY.
  • Revenues from packaged food and beverage increased to N4.61 billion, +7.85% YoY.
  • Revenues from quick-service restaurants increased to N436 million, +15.65% YoY.
  • Other operating income declined to N120 million, -24.53% YoY.
  • Net finance income declined to N205 million, -42.09% YoY.
  • Operating expenses increased to N3.33 billion, +7.38% YoY.
  • Pre-tax profits declined to N1.44 billion, -24.69% YoY.
  • Earnings Per Share increased to 15 Kobo, +105.47% YoY.

Bottom Line

UACN of Nigeria Plc recorded a boost in its four revenue-generating units, as total revenues increased. However, profits of UACN of Nigeria Plc declined in the period under consideration.

The results indicate that the decline was partly aided by declined income – other operating, net finance, and non-recurrent income, as well as rising expenses, compared to the same period last year.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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