UAC Nigeria Plc on Monday, 1st of April, 2019 released its full-year 2018 financial report. The company’s Revenue declined by 11.70% y/y from ₦89.18 billion in 2017 to ₦78.74 billion in 2018. This was mainly impacted by the decline in their sales of goods and services business.
The company recorded a 60.13% increase in income earned from short-term bank deposits. This, in turn, contributed to an increase in Finance Income from ₦1.86 billion in 2017 to ₦2.98 billion in 2018.
Finance cost also declined significantly by 19.36%, from ₦6.19 billion in 2017 FY to ₦4.99 billion in 2018 FY.
Profit before Tax (PBT) dipped by 269.82% from ₦3.25 billion in 2017 FY to a loss of ₦5.51 billion in 2018 FY while Profit After Tax (PAT) dipped by 1095.47% from ₦962.82 million in 2017 FY to a negative of ₦9.58 billion in 2018.
Both Return on Asset (ROA) and Return on Equity (ROE) declined to indicate that UACN Plc. poor utilization of assets and shareholders fund in generating income.
EPS fell by 522% y/y, from ₦0.50 in 2017 FY to (₦2.11) 2018 FY. Despite the negative EPS, a dividend of ₦0.64 was declared.
This represents a 1.54 % decrease compared to ₦0.65 paid in FY 2017.
