UAC reports 9% growth in profit for 2016

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UAC of Nigeria plc in its financial report for the last quarter of 2016 posted NGN17.3 billion Gross profit compared to NGN16.8 billion recorded in the last quarter of 2015.

UAC of Nigeria plc ended the year with NGN84.6 billion Revenue  compared to NGN73.7 billion recorded in the year year before. The total cost of sales was  NGN67.2 billion in contrast to NGN56.9 billion recorded in the year 2015.

Its operating profit for the year was NGN8.0 billion against NGN7.3 billion recorded in 2015.

The company’s profit before taxation was NGN 7.7 billion in the year in review as it records the same amount in the year before.

After deduction of its tax for the year, UAC profit for the year NGN5.6 billion against NGN5.1 billion recorded in 2015, which represents 9% increase year on year comparison.

UAC acquired total assets worth 138.2 billion against NGN128.6 billion recorded in the previous year. its Total Liabilities was NGN61.7 billion in contrast to  NGN54.5 billion recorded in the financial year 2015.

 

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