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    UAC profit dips to N7.36bn in H1

    UAC of Nigeria Plc has reported a profit after tax (PAT) of ₦7.36 billion for the half-year ended June 30, 2025, representing a 22.9% drop from the ₦9.54 billion recorded in the same period of 2024, according to financial results published by Punch.

    The company’s decline in bottom-line performance occurred despite a strong revenue surge. 

    Turnover for H1 2025 rose to ₦110.41 billion, up 32.6% from ₦83.25 billion in H1 2024, driven largely by increased sales volumes across major subsidiaries. 

    Gross profit climbed by 51% to ₦28.26 billion from ₦18.71 billion, while operating profit nearly doubled to ₦12.59 billion, reflecting improved operational efficiency and higher returns from associates.

    Read Also: Ghana Urges DStv to Slash Prices or Risk Licence Suspension

    UAC’s share of profit from equity-accounted investees jumped to ₦2.13 billion, up from ₦475.37 million in the previous year. 

    However, the company faced significant pressure from finance-related expenses. Net finance income of ₦7.82 billion in H1 2024 swung to a net finance cost of ₦3.62 billion in H1 2025, following a 76% drop in finance income to ₦2.56 billion and a more than twofold increase in finance costs to ₦6.18 billion.

    As a result, profit before tax fell by 25.7% to ₦11.10 billion from ₦14.95 billion, while income tax expenses declined to ₦3.74 billion from ₦5.41 billion. 

    Earnings attributable to shareholders slipped to ₦6.96 billion compared to ₦8.91 billion last year, with earnings per share dropping 21.7% from 304 kobo to 238 kobo.

    On the balance sheet side, total assets inched up to ₦161.49 billion from ₦157.73 billion as of December 2024. Cash and cash equivalents improved to ₦46.81 billion, and trade and other receivables rose to ₦10.18 billion. 

    Shareholders’ equity increased to ₦69.52 billion from ₦62.74 billion, with retained earnings growing to ₦53.17 billion despite the year-on-year profit decline.

    Image Credit: Punch Newspapers

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