UACN reports NGN589 million profit for six months

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UACN plc reports NGN589.2 million profit for the half year 2017 which is compared to NGN1.3 million reported same period in the financial year 2016.

UACN ended the period with higher revenue of NGN23.4 billion in contrast to NGN19.1 billion posted on the year before while costs of sales was also higher at NGN19.9 billion against NGN14.9 billion recorded int he year before.

The company’s gross profit lowered to NGN3.5 billion form NGN4.1 billion reported in the fiscal year 2016 while operating profit increased to NGN1.9 billion from NGN1.6 billion in the previous year.

Total assets was NGN137.6 billion compared to NGN138.2 billion disclosed in the year before while total liabilities was NGN63.5 billion versus NGN61.7 billion in the year 2016.

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