UPDC Plc Post N3.1billion PAT

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Quick Highlights

• Gross Profit dropped 36% to N3billion (2012: N5billion)
• Operating profit without other income was N1.4billion (2012: N3.2billion)
• Game changer was other income which rose 633% to N3.6billion (2012:N503million)
• UPDC sold off about N12billion in investment property which may have contributed to the increase in other income
• Profit after tax was N3.1billion a 44% increase from the N2.1billion posted in 2012

UPDC first released its results in the website of the NSE