From H1’18 decline in Revenue, UAC Nig. Plc grew its H1’19 Revenue by 12.40% from ₦36.98 billion in H1’18 to ₦41.57 billion in H1’19.
This occurred due to a ₦4.68 billion increase in Sales of goods, whereas, the Revenue from Services declined by ₦90.49 million compared to prior year performance.
The firm recorded an 84.78% decline in net finance cost as a result of an increase in Interest income on short-term bank deposit and decline in interest on bank loans and an overdraft.
Similarly, the firm’s Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 61.33% and 101.02% respectively to ₦3.39 billion and ₦2.59 billion in H1’19 relative to H1’18.
Investors earning are an indicator – Earnings per Share (EPS) increased by 158.33% to 62 kobo in H1’19 compare to 24 kobo in the corresponding period of 2018.
With all performance indicator printing high in H1’19, we believe UAC Nigeria is on course to declare a better dividend for its loyal investors at the end of the year if H1’19 performance is matched/surpassed in H2’19.
GTI Research
