UAC of Nigeria Hits 52-week High on Successive Rally
Diversified conglomerate company, UAC of Nigeria Plc, share price increased steeply as investors increased bet on the company stocks in the equities market.
Due to successive rally, the market price of Ticker: UACN settled at N30.25 in the stock market, up by 26.3% week on week as investors’ shifted their attention to companies with strong earnings diversification.
According to data from the Nigerian Exchange, the stock positive price movement lifted UAC of Nigeria Plc market value to N88.515 billion on Friday.
Stock data showed the volume transacted were heavy, range from about 798,000 to more than 9.4 million on Friday close. Over the five trading sessions, UAC of Nigeria share price swung positively each day.
In its 9-months earnings release, UAC of Nigeria Plc revenue grew by 63.4% year on year to N133.183 billion from N81.527 billion in the comparable period in 2023.
The conglomerate company recorded 103.7% year on year growth in profitability to N13.667 billion at the end of 9 months of financial year 2024.
In the first nine months of the year, UAC of Nigeria Plc achieved profit before tax of ₦20.8 billion, a 117% higher than the comparable period in 2023. UACN bottomed at N10.60, its 52-week low, before investors sentiment picked up.
UAC of Nigeria generates earnings from Edible and feeds segment, Package Foods and Beverage. Others are Paint, Quick Service Restaurant (QSR) and other two associates companies namely: UPDC, a real estate company where UACN own 42.5% shareholdings and MDS logistic where UAC controls 43% of the entire shareholding. #UAC of Nigeria Hits 52-week High on Successive Rally#
