The UAC of Nigeria has reported a revenue earlier than tax of N26 billion for 2024, marking a 107 per cent improve from the N12 billion recorded in 2023.
The corporate disclosed this in a company submitting with the Nigerian Alternate Ltd. on Saturday.
In 2024, UAC recorded earnings per share of 497 kobo, up from 314 kobo in 2023.
The corporate generated N197 billion in income, a 63 per cent improve from 2023.
“This progress was pushed by robust gross sales in key segments, together with Edibles and Feed 54 per cent, Packaged Meals and Drinks 102 per cent, and Paints 52 per cent.”
UAC’s gross revenue for 2024 surged by 117 per cent to N46 billion, with a gross margin enchancment of 5.83 share factors to 23.5 per cent.
This was supported by quantity progress in packaged meals and drinks, improved manufacturing effectivity, and strategic worth changes to mitigate inflationary pressures.
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Working revenue doubled to N19 billion in 2024, in comparison with N9 billion in 2023.
Excluding a one-off acquire from property gross sales in 2023, the working revenue rose by 780 per cent, with underlying working revenue of N2.1 billion.”
UAC additionally noticed web finance revenue improve to N5.9 billion in 2024 from N2.4 billion in 2023, pushed by greater funding yields and positive aspects within the treasury portfolio.
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Group Managing Director Fola Aiyesimoju commented on the outcomes, stating, “We achieved robust progress in 2024, with a 63 per cent improve in income and a 107 per cent rise in revenue earlier than tax.
“That is the results of laborious work and dedication from our groups throughout the group.
“We stay targeted on creating shareholder worth and prioritising worthwhile progress, scale, and ease as we transfer into 2025.”
(NAN)
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