UAC Nigeria’s ₦17 billion profit in 2024 is its best result since 2014's ₦10.9 billion

Key takeaways

  • UAC Nigeria's ₦17 billion naira profit in 2024 is the highest since 2014
  • The company recorded losses in 2018, 2019 and 2022, with ₦9.5 billion, ₦9.2 billion and ₦4 billion losses, respectively
  • Profit recovery started in 2020 and improved significantly in 2023 and 2024
  • 2024’s unaudited profit is almost double the ₦8.9 billion recorded in 2023
  • Profitability has been volatile over the past decade, with major losses and strong rebounds

UAC Nigeria’s financial performance has fluctuated significantly over the past decade, with periods of profit and loss. The company recorded its highest profit in 2024 at ₦17 billion, marking a major recovery from past losses. The last time UAC Nigeria achieved a comparable profit was in 2014 when it posted ₦10.9 billion.
However, between 2017 and 2019, the company struggled, reporting losses in 2018 and 2019. The turnaround in recent years, especially the sharp profit growth from 2023 to 2024, highlights a strong recovery phase for the company.

Source:

UAC Nigeria’s annual reports

Period:

2014-2024
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Key takeaways:
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