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  #281 (permalink)  
Old 1st April 2016, 03:42 PM
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Default Re: Uacn

Quote:
Originally Posted by emmanuel ewumi View Post
Which kain case UACN get, that made the company had to spend N151 million on legal exoenses.



IT expenses went up from N210 million in 2014 to N272 million in 2015.

N1.27 billion was used for vehicle maintence and fuel in 2015, this figure may go up by 40% in 2016.

N922 million was spent on electricity and power in 2014, but went down to N876 million in 2015. I observed that the ac in my favourite Mr Biggs is not usually on whenever they are on generator, and in most cases they have a timetable for when the generator can be used.

The marketing and advert expense of N1.18 billion ought to have a positive impact on the revenue and bottomline.

Distribution expense went up from N620 million in 2014 to N667 million in 2015.
Sir Ewumi, some answers to your questions can be gleaned from the annual report.

1. Legal Fees

This is not new to a diversified conglomerate like UACN. If my memory serves me right, there was a time Sir Wanaj0 pointed our attention to some land issues with a family in the Lekki axis of Lagos. So if that case got to court for example, you can be rest assured that UPDC (a subsidiary of UACN) will incur a huge amount in legal fees or legal compensations.
Just to give an example of such, you can see the quote below on page 44 of the report:

Quote:
In June 2014, an award was made against the group in respect of a legal claim made by a claimant. The award requires a payment of $136,805 rent and service charges to the claimant. A provision has been recognised for this amount. However, we have applied for stay of execution of the award and also filed an application for the setting aside of the award for being null and void. No payment has been made to the claimant pending outcome of the stay of execution. The Lagos high court is currently reviewing the case
Another example is on Pg 49 of the report:

Quote:
In 2006, UPDC acquired a parcel of land in Ikoyi from Wema Bank. The property was originally owned by the Federal Ministry
of Works and Housing (FMWH). Subsequently, Parkview Estate was developed on the property at a carrying value of
N1.5billion.However, County & City Bricks Limited (CCBL) had taken the Federal Government and UPDC to court claiming that the land was leased to it in 1998 and therefore any subsequent dealing on the portion of land adverse to its interest is null and of no effect.
Judgment was delivered in June 2009 to the effect that there was indeed a contract between the FMWH and CCBL which the Ministry breached and that they were entitled to the parcel of land (including the UPDC acquired area). The court further declared that the certificates of UPDC and other parties to the suits were null and void. CCBL, with the help of police officers, but without a writ of execution from the Court and any bailiff of Court, forcefully took over the premises and ejected UPDC’s contractors and workers therefrom.UPDC has appealed the judgment. The lawyer’s opine that UPDC has a high chance of succeeding in its appeal because of inconsistencies in the judgment of the High Court and that the company is a bonafide purchaser of value without notice of any encumbrance on the property before acquiring a legal title.Steve Akhigbemidu & Co. (Estate Surveyors & Valuers) assessed and valued the property - fair market: N1.8billion, forced sale: N1.2billion
UPDC recorded a loss in a quarter last year and with the current economic situation, they might still be struggling selling some of their overpriced housing units.

2. Power costs

A diversified conglomerate like UACN is most likely either paying above commercial market rates to some Discos or generating its own power and buying gas via a Power Purchase Agreement (PPA). Whichever is the case, their power costs are bound to go up/down either when the gas prices are reviewed or the electricity tariff is reviewed or they gain some efficiency in the in-house power generation.
A reduction in the power costs shows some efficiency over the last year.

Thus, your reference to the AC at Mr Biggs might not have much impact on their power costs compared to the one I mentioned above.
Remember, some stakes in UAC Restaurants which controls the Mr Biggs outlet had already been sold to Tiger brands sometime ago.

Happy Investing!!!
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  #282 (permalink)  
Old 27th April 2016, 08:53 AM
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Default Re: Uacn

http://nse.com.ng/Financial_NewsDocs...APRIL_2016.pdf
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  #283 (permalink)  
Old 7th June 2016, 12:54 PM
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Default Re: Uacn

One of the reasons that is not obvious impacting the return of UACN.


Details available at:

http://www.judefejokwu.blogspot.com

Last edited by MYMIND; 7th June 2016 at 12:57 PM.
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  #284 (permalink)  
Old 10th June 2016, 09:27 AM
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Default Re: Uacn

Nigeria Food-to-Logistics Company UAC Joins Naira Complaints - Bloomberg

Forex policy delay hurting business – UAC CEO | Punch Newspapers
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  #285 (permalink)  
Old 10th June 2016, 03:36 PM
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Default Re: Uacn



NonsenseSince their many years in the country, one expects that they should have grown into a big forex earner for the country. This is a failed company........where is Kingsway stores......ditto for FMI
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  #286 (permalink)  
Old 10th June 2016, 07:29 PM
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Default Re: Uacn

Quote:
Originally Posted by oyo View Post
NonsenseSince their many years in the country, one expects that they should have grown into a big forex earner for the country. This is a failed company........where is Kingsway stores......ditto for FMI
Softly softly.

Ease of doing business close to bottom in the world and the people and their politicians care not and do nothing. But drive all investors away (Dunlop/Michelin etc despite their backward integration with rubber plantations) and never embracing them as long as oil flows abi.
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Last edited by Babs_O; 10th June 2016 at 07:44 PM.
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  #287 (permalink)  
Old 11th June 2016, 02:31 PM
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Default Re: Uacn

Quote:
Originally Posted by Babs_O View Post
Softly softly.

Ease of doing business close to bottom in the world and the people and their politicians care not and do nothing. But drive all investors away (Dunlop/Michelin etc despite their backward integration with rubber plantations) and never embracing them as long as oil flows abi.

Oga Babs, I am angry that UACN had not been innovative enough. They should have moved into mining or/and export oriented manufacturing long ago,.."when the eyes were still located on the knees"

Most of the Chineese companies making waves now, started business in the late 1970"s and here you have a coy that existed at the same time as Migiets and Lugard still scavenging for forex
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  #288 (permalink)  
Old 12th June 2016, 01:16 PM
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Default Re: Uacn

Quote:
Originally Posted by oyo View Post
Oga Babs, I am angry that UACN had not been innovative enough. They should have moved into mining or/and export oriented manufacturing long ago,.."when the eyes were still located on the knees"

Most of the Chineese companies making waves now, started business in the late 1970"s and here you have a coy that existed at the same time as Migiets and Lugard still scavenging for forex
Go and check the Managers of those Chinese companies making waves and you will discover that they are not being managed by Nigerians. UACN was given to Nigerian Managers and they ended up killing it. Many Nigerians started granite business before the Chinese came. They have folded up while the Chinese that just came are making a killing. So make you leave matter. Iam sure very soon you will start asking the state of the Country that Migiets and Lugard left behind when they were leaving. Your people have turned it into a Contraption.
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  #289 (permalink)  
Old 11th October 2016, 01:09 AM
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Default Re: Uacn

Hello Gurus, kindly assist with this issue. My dad has an outstanding bonus shares in UACN amounting to almost 121,000 units, which was recently discovered at CSCS. However, the bonus shares are not refecting in his CSCS statement from his broker. He just recently sold all his UACN units with his broker before discovering this outstanding bonus shares, since he got his shares in the 80s. Please how can I assist him reconcile this. Can I do it for him? Where do I go to? What forms do I fill for him? I appreciate ma people
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  #290 (permalink)  
Old 11th October 2016, 01:31 PM
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Default Re: Uacn

Quote:
Originally Posted by Bigtom View Post
Hello Gurus, kindly assist with this issue. My dad has an outstanding bonus shares in UACN amounting to almost 121,000 units, which was recently discovered at CSCS. However, the bonus shares are not refecting in his CSCS statement from his broker. He just recently sold all his UACN units with his broker before discovering this outstanding bonus shares, since he got his shares in the 80s. Please how can I assist him reconcile this. Can I do it for him? Where do I go to? What forms do I fill for him? I appreciate ma people
@Bigtom,Go to UAC registras at 1-5 Odulami st.
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  #291 (permalink)  
Old 11th October 2016, 01:50 PM
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Default Re: Uacn

Quote:
Originally Posted by Bigtom View Post
Hello Gurus, kindly assist with this issue. My dad has an outstanding bonus shares in UACN amounting to almost 121,000 units, which was recently discovered at CSCS. However, the bonus shares are not refecting in his CSCS statement from his broker. He just recently sold all his UACN units with his broker before discovering this outstanding bonus shares, since he got his shares in the 80s. Please how can I assist him reconcile this. Can I do it for him? Where do I go to? What forms do I fill for him? I appreciate ma people
I would advise that you give the registrars of UACN a call and explain to them what you have just explained on here. they should be able to advise you on what to do. It might be a case of your dad having to fill some forms to verify that he's the person on there register. If he wants to sell them, they shoudl be able to advise you on what to do.
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  #292 (permalink)  
Old 11th October 2016, 07:59 PM
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Default Re: Uacn

Quote:
Originally Posted by Apache View Post
I would advise that you give the registrars of UACN a call and explain to them what you have just explained on here. they should be able to advise you on what to do. It might be a case of your dad having to fill some forms to verify that he's the person on there register. If he wants to sell them, they shoudl be able to advise you on what to do.
UACN registrars is now African prudential registrars plc located on Ikorodu road. They are very active, kindly visit, send mail or give them a call.
best regards
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  #293 (permalink)  
Old 27th April 2017, 04:24 PM
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Default Re: Uacn

http://www.nse.com.ng/Financial_News...APRIL_2017.pdf
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  #294 (permalink)  
Old 2nd May 2017, 09:08 AM
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Default Re: Uacn

This direction is no longer profitable.
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