UAC Nigeria PLC, a leading diversified holding company, in unaudited financial statements for 2024, submitted to the Nigerian Exchange (NGX) has reported a revenue of N198 billion, a robust 64 per cent rise from the previous year and a 109 per cent increase in profit to N25.8 billion.
The company’s performance indicates sustained growth from the previous year. Gross profit more than doubled, reaching N46.3 billion, up from N21.3 billion in 2023, with the gross margin expanding from 17.7 per cent to 23.4 per cent.
Commenting on the results, Group Managing Director, Folasope Aiyesimoju, stated: “We delivered strong performance in 2024, and this outcome was on account of the hard work, skill and dedication of leaders across the Group and their teams. At UAC, people are at the heart of our strategy, and I thank my colleagues for the effort that went into generating these results.
“Meaningful improvements in growth and profitability were recorded across our core operating segments. Specific initiatives include aggressively pursuing new markets with products offering value to the consumer, a rigorous focus on pricing and margin and careful risk management regarding interest rates and foreign exchange.”
On the company’s financial strategy, Funke Ijaiya-Oladipo, Group Finance Director, UAC of Nigeria PLC, noted that the company’s disciplined approach to financial management was instrumental in delivering these results.
“We maintained a strong focus on cost optimization, working capital efficiency, and prudent risk management, which supported both top-line growth and profitability. As we look ahead to 2025, we remain committed to driving sustainable growth through operational excellence, strategic capital allocation, and continued focus on delivering value to our shareholders,” she said.
This performance is further supported by the launch of the 1879 Tech Hub, named after UAC of Nigeria PLCs founding year. The initiative aims to drive digital innovation and reinforces the company’s commitment to leveraging technology for sustainable growth.
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