The UAC of Nigeria has reported a profit before tax of N26 billion for 2024, marking a 107 per cent increase from the N12 billion recorded in 2023.
The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. on Saturday.
In 2024, UAC recorded earnings per share of 497 kobo, up from 314 kobo in 2023.
The company generated N197 billion in revenue, a 63 per cent increase from 2023.
Strong sales drove growth in Edibles and Feed (54%), Packaged Food and Beverages (102%), and Paints (52%).
UAC’s gross profit for 2024 surged by 117 per cent to N46 billion, with a gross margin improvement of 5.83 percentage points to 23.5 per cent.
Volume growth in packaged food and beverages, better production efficiency, and strategic pricing helped mitigate inflation.
Operating profit doubled to N19 billion in 2024, compared to N9 billion in 2023.
Excluding a one-off gain from property sales in 2023, the operating profit rose by 780 per cent, with underlying operating profit of N2.1 billion.”
UAC also saw net finance income increase to N5.9 billion in 2024 from N2.4 billion in 2023, driven by higher investment yields and gains in the treasury portfolio.
Group Managing Director, Fola Aiyesimoju, commented on the results, stating, “We achieved robust growth in 2024, with a 63 per cent increase in revenue and a 107 per cent rise in profit before tax.
“This is the result of hard work and dedication from our teams across the group.
“We remain focused on creating shareholder value and prioritising profitable growth, scale, and simplicity as we move into 2025.
eTranzact International has approved the payment of a final dividend of N12.5 per share to its shareholders, subject to withholding tax and shareholder approval.
The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. on Saturday.
The dividend will be paid to shareholders on record as of the close of business on July 7.
The statement reads: “A final dividend of 12.5 kobo per fifty kobo shares, subject to withholding tax and approval, will be paid to shareholders listed in the Register of Members as of July 7, 2025.”
The Shareholders Register will be closed from July 8 to 23, 2025.
“On July 24, 2025, dividends will be paid electronically to shareholders whose names appear in the Register of Members as of July 8, 2025, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.”
The company has announced that its Annual General Meeting will take place on July 24.
The Central Securities Clearing Systems, CSCS, Group also announced a profit after tax of N11.95 billion for the 2024 fiscal year.
This reflects 18.7 per cent increase from the N10.08 billion recorded in 2023.
According to the company’s financial report, released on its website on Friday, CSCS also reported a profit before tax of N13.84 billion in 2024, up from N11.20 billion in 2023.
Additionally, the company’s total operating income rose from N19.02 billion in 2023 to N26.09 billion in 2024.
This underscores a significant growth in its financial performance.
NAN
