2014 Q1: UACN Pre-tax Profits Rise By 37%…See details

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UAC of Nigeria Plc released its 2014 Q1 results posting N19.8billion in revenues a 4% rise YoY. Pre-tax profits also rose to N2.6billion for the quarter representing a 36% increase over the same period last year.

Key Take outs

• Organic margins were relatively flat this quarter. Operating profit margins (without other income) and gross profit margins all remained unchanged.
• The game changer again is with other income which rose 152% to N1.2billion. In their 2013 annual report other income comprised of sale of investment property.
• Balance sheet still looks strong with a hefty working capital of N5.3billlion available for the company to finance its operations