UACN Property Development sees lower earnings for FY 2016


UACN Property Development Company Plc :

* Says the co expect to report materially lower earnings for year ended Dec 31, 2016

* Says lower earnings is mainly as result of recognition of losses on certain projects and impairment of investments in one joint venture project

* Says results were further worsened by foreign exchange losses and negative performance of its hotel asset Source:


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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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