UAC Nigeria release earnings result.
May 6th, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
(by Ugonna MADUAGUFOR)
UACN, a company listed under the conglomerate sector, into Manufacturing, Merchandising, Warehousing, and Services related businesses, released its unaudited account for the year ended 31st December 2007 to the Nigerian Stock Exchange today. The earnings result showed a Profit After Taxation and Extra ordinary items of N3.058b in 2007 against a comparable year equivalent of N3.203b for previous year 2006. The reduction in the net profit recorded in year 2007 with respect to previous year 2006 was due to an extra ordinary income of N866.165m recorded in year 2006 end of year earnings.
Other features of the recently released result included: a TURNOVER of N31.478b in 2007 against a corresponding N28.403b in comparable earnings period in prvious year 2006; an EXCEPTIONAL ITEMS expenditure of N300.000m against a comparable expenditure record of N333.965m recorded as spent in similar period of year 2006; PROFIT BEFORE TAXATION of N5.086b as against comparable N3.893b in year 2006. a PROFIT AFTER TAXATION of N3.782b in 2007 as against a comparable period earnings of N2.819m recorded in year 2006; there was no EXTRA ORDINARY ITEMS recorded in year 2007, while the company recorded such to the tone of N866.165m in previous year 2006; a MINORITY INTEREST expenditure of N724.470m in 2007 as against a comparable periods expenditure of N481.892m in 2006.
The company directors proposed to pay a FINAL DIVIDEND of N1.20K; the closure date of the company’s record book of members for this purpose is May 8, 2008; while the payment date is slated to be June 4Th 2008. It is worth mentioning that the company paid an interim dividend 50K per share with respect to reporting year 2007.
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