Earnings Update – UACN 2021FY Cost Pressures Undermine Earnings Potential

United Africa Company of Nigeria (UACN), in its 2021FY financial scorecard, recorded solid double-digit growth (+24.61%YoY) in revenue to NGN101.38bn (vs. NGN81.36bn in 2020FY). This positive performance was largely supported by an upward review of prices, higher sales volume, and the implementation of some restructuring initiatives (including the merger of its paint businesses) during the period. As a result, all business segments delivered substantial growth numbers.

Earnings Update – UACN 2021FY


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