UACN Plc Post N9.9billion PAT…See Details

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UAC Group Plc released its 2013 FY audited results showing revenue rose 13% to N78.7billion (2012: N69.6billion). Highlights

• Operating profit without other income dropped 15% to N9.5billion (2012: N11.3billion)
• Other income rose over 3000% to N5.6billion (2012:N171million). UAC Group sold investment property with a book value of about N14billion.
• Finance cost rose 61% to N1.2billlion (2012:N781million)
• Profit after tax for the year was N9.9billion compared to N7.1billion posted in 2012
• Return on equity was 15% compared to 12% posted in 2012
• They proposed a dividend payment of N1.75 with a closure date of May 7 2014.