UAC of Nigeria PLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 08:07 pm
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UAC of Nigeria PLC reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was NGN 28,250.04 million compared to NGN 24,376.44 million a year ago. Net income was NGN 2,406.23 million compared to net loss of NGN 1,043.47 million a year ago. Basic earnings per share from continuing operations was NGN 0.82 compared to basic loss per share from continuing operations of NGN 0.35 a year ago. Diluted earnings per share from continuing operations was NGN 0.82 compared to diluted loss per share from continuing operations of NGN 0.35 a year ago. Basic earnings per share was NGN 0.82 compared to basic loss per share of NGN 0.36 a year ago. Diluted earnings per share was NGN 0.82 compared to diluted loss per share of NGN 0.36 a year ago.
For the six months, sales was NGN 52,870.14 million compared to NGN 52,042.14 million a year ago. Net income was NGN 1,548.78 million compared to net loss of NGN 526.75 million a year ago. Basic earnings per share from continuing operations was NGN 0.53 compared to basic loss per share from continuing operations of NGN 0.17 a year ago. Diluted earnings per share from continuing operations was NGN 0.53 compared to diluted loss per share from continuing operations of NGN 0.17 a year ago. Basic earnings per share was NGN 0.53 compared to basic loss per share of NGN 0.18 a year ago. Diluted earnings per share was NGN 0.53 compared to diluted loss per share of NGN 0.18 a year ago.
UAC of Nigeria Plc is a diversified group organized around 5 areas of activity:
- production and sale of animal feed (63.5% of net sales). The group also produces cereals and edible oils;
- manufacturing of food products (21.1%): soft drinks, fruit juices, bottled water, snacks, ice cream, etc.;
- manufacturing and sale of paints (12.3%);
- fast food services (1.8%);
- other (0.9%): primarily financial services, logistics services and development and management of residential and commercial real estate assets.
All sales are in Nigeria.