UAC Of Nigeria Plc Declares N26bn Profit Before Rax In 2024

UAC of Nigeria Plc declares N26bn profit before tax in 2024. The company generated N197 billion in revenue; a 63 per cent increase from 2023.

The UAC of Nigeria has reported a profit before tax of N26 billion for 2024, marking a 107 per cent increase from the N12 billion recorded in 2023.

The company disclosed this in a corporate filing with the Nigerian Exchange Limited on Saturday. In 2024, UAC recorded earnings per share of 497 kobo, up from 314 kobo in 2023.

The company generated N197 billion in revenue; a 63 per cent increase from 2023.
It stated, “This growth was driven by strong sales in key segments, including edibles and feed 54 per cent, packaged food and beverages 102 per cent, and paints 52 per cent.

UAC’s gross profit for 2024 surged by 117 per cent to N46 billion, with a gross margin improvement of 5.83 percentage points to 23.5 per cent.

This was supported by volume growth in packaged food and beverages, improved production efficiency, and strategic price adjustments to mitigate inflationary pressures.

Operating profit doubled to N19 billion in 2024, compared to N9 billion in 2023. Excluding a one-off gain from property sales in 2023, the operating profit rose by 780 per cent, with underlying operating profit of N2.1 billion.”

UAC Of Nigeria Plc

UAC also saw net finance income increase to N5.9 billion in 2024 from N2.4 billion in 2023, driven by higher investment yields and gains in the treasury portfolio.

The Group Managing Director, Fola Aiyesimoju, commented on the results, stating, “We achieved strong growth in 2024, with a 63 per cent increase in revenue and a 107 per cent rise in profit before tax.

Mr Aiyesimoju said, “This is the result of hard work and dedication from our teams across the group.

We remain focused on creating shareholder value and prioritising profitable growth, scale, and simplicity as we move into 2025.”

Tinubu’s Support Group (YP4T) Distributes Rice To Police Barracks In Lagos

Tinubu’s support group (YP4T) distributes rice to police barracks in Lagos. Mr Oware said that the rice distribution covered major mosques within barracks communities in Ikeja, Ilupeju, Surulere, Ojuelegba, and Bariga.

A support group for President Bola Tinubu, The Young Professionals for Tinubu (YP4T), has distributed over 2,000 bags of rice to mosques and homes within police barracks in Lagos mainland.

The National Coordinator for the programme, Alex Oware, said that the initiative was carried out in the spirit of unity and compassion that defines the eid-el-fitr season.
According to Mr Oware, YP4T members led the effort, providing essential food support to Muslims and widows as part of the group’s broader community engagement under the ‘Renewed Hope Agenda.’

He said that the rice distribution covered major mosques within barracks communities in Ikeja, Ilupeju, Surulere, Ojuelegba, and Bariga.

Mr Oware added that widows and vulnerable families in the barracks received direct food aid, ensuring the festive season was marked with dignity and care for all.

He said, “Our goal is simple — no one should feel forgotten during a time of celebration. This initiative is about dignity, community, and ensuring our people feel seen and supported.

Wike Donates 10,000 Bags Of Rice

The mosques in our police barracks are important gathering spaces, and we wanted to meet people where they are. As members of YP4T, we believe small, consistent acts of care form the true foundation of nation-building.’’

The coordinator emphasised that the YP4T initiative was not just a seasonal gesture but a demonstration of the group’s commitment to inclusive development and grass-roots nation-building.

Ramadan: Charity Group Feeds 3,000 Patients, Frees 31 Inmates In Katsina

Ramadan: Charity group feeds 3,000 patients, frees 31 inmates in Katsina. The foundation established in 2020 aims to assist less-privileged individuals during the holy month of Ramadan.

The Katsina Charity Support Foundation has fed about 3,000 patients in hospitals and the visitors’ house (Gidan Baki), and also facilitated the release of 31 inmates in the state.

This is contained in the foundation’s Ramadan report compiled by a 19-member committee to journalists in Katsina on Saturday.

The report was signed by the committee’s Chairman, Lawal Aliyu-Lawal, and the Secretary, Danjuma Katsina.
According to the report, the foundation, established in 2020, aims to assist less-privileged individuals during the holy month of Ramadan.

The committee stated that the foundation mobilised funds ranging from N1,000 to N1 million through contributions by well-meaning individuals, particularly those in the Katsina Times Forum WhatsApp group.

According to the report, the foundation raised a total of N6.149 million in 2025.
It stated, “The foundation operates with three committees. The first is focused on freeing prisoners to allow them to observe the Ramadan fast with their families.

Katsina

The second is in charge of cooking, packaging, and delivering food to hospitals and Katsina Gidan Baki. The third committee handles purchasing and delivering food items and cash assistance to less privileged individuals on the outskirts of Katsina.”

The report said from its inception in 2020 through to 2025, the foundation had gathered and donated a total of N30 million to support less-privileged persons during the Ramadan period.

It stated, “The foundation also partners with Mobile Media Crew, Katsina Post, Verified News, and Jakadiya Radio and Television.

Its activities are actively supported and promoted by the Katsina Times Media Group, publishers of Katsina Times Online, Katsina City News magazine, and Taskar Labarai.”