UACN plc posts NGN68.7 billion revenue in 2017


UAC of Nigeria plc (UACN plc) is reporting 55% decrease in profit to NGN1.9 billion for the nine months ended September 2017 compared to NGN4.3 billion reported same period in the financial year 2016.

The company ended the period with NGN68.7 billion revenue in contrast to NGN56.7 billion recorded in the previous year while gross profit dropped to NGN10.9 billion against NGN12.8 billion in the year before.

Operating profit for the period also lowered to NGN5.5 billion in contrast to NGN6.4 billion posted in the fiscal year 2016.

UACN plc said its assets decreased to NGN127.3 billion compared to NGN138.2 billion recorded in the year 2016 while total liabilities also dropped to NGN52.9 billion against NGN61.7 billion in the previous year.

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