NIGERIA – UAC Foods has introduced its much-anticipated Supreme Yogurt and Vanilla flavor, expanding its product line to meet growing consumer demand for premium dairy options.
The new offering promises a creamy, refreshing taste, now available in stores nationwide. This strategic product launch aligns with UAC Nigeria’s impressive financial performance in 2024, driven by robust growth across its subsidiaries.
In the first half of 2024 (H1 2024), UAC Nigeria reported a net profit of N9.5 billion, reflecting an extraordinary 612 percent increase from the N1.3 billion recorded in H1 2023.
This surge was attributed to heightened demand for UAC’s diverse product portfolio. Analysts note that the company’s half-year earnings position it for its strongest financial performance in the 21st century.
UAC’s growth trajectory is fueled by standout results from key subsidiaries, particularly Livestock Feeds and Chemical and Allied Products (CAP) Plc.
During the nine months ending September 30, 2024 (9M 2024), Livestock Feeds achieved a record net profit of N1.4 billion—a staggering 3504 percent increase from N39.3 million in the corresponding period of 2023.
The company’s total assets grew by 16 percent to N17.8 billion, supported by strategic inventory investments.
CAP’s raw material inventory expanded significantly to N5.3 billion, ensuring steady production capacity to meet rising market demand.
UAC Foods, one of the group’s top-performing subsidiaries, has also demonstrated strong financial health.
In H1 2024, the company recorded a pre-tax profit of N4.1 billion, a substantial increase from N1.3 billion in H1 2023.
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