Monday, February 20, 2017 12:35 PM / NSE
We have carried out a preliminary review, subject to audit, of the Management Accounts of our company for the year ended 31st December, 2016 and expect to report materially lower earnings.
This is mainly as a result of the recognition of losses on certain projects and impairment of investments in one joint venture project occasioned by significant increase in finance costs. The results were further worsened by foreign exchange losses and the negative performance of our hotel asset.
Further details of the financial performance will be disclosed in the audited financial statements.
Despite the continued lull in the real estate sector occasioned by the headwinds of the macro-economic environment, the fundamentals of the business remain strong and we are restructuring and repositioning the company to better deal with the challenges of the times and explore emerging opportunities.
1. UAC-PROP declares N23.77 million PAT in Q3 2016 Results SP N3.09k
2. UAC-PROP declares N34.28 million PAT in Q2 2016 Results SP N3.53k
3. UAC-PROP declares N127.75 million Loss in Q1 2016 Results SP N4.45k
UAC-PROP declares N380.78 million PAT in 2015 Audited Results SP N4.61k
5. UAC-PROP declares N2.19 billion Loss in Q3 15 results SP N7.03k
UAC-PROP declares N91.5 million Loss in Q2 15 results SP N9.55k
UAC-PROP declares N184million PAT in Q1 15 results SP N10.78k
UACN Proposes 175k dividend per share in 14 Audited results SP N35.72k