L–R: Mr. Kunle Osilaja, Non-executive Director, UACN Property Development Company (UPDC) Plc; Mrs. Bolarin Okunowo, Head Corporate Finance, UPDC Plc; Mr. Bola Adeeko, Head, Corporate Services Division, The Nigerian Stock Exchange (NSE); Mr. Fola Aiyesimoju, Chief Executive Officer, UPDC Plc; Mrs. Deborah Nicol-Omeruah, Deputy CEO, UPDC Plc and Mrs. Folakemi Fadahunsi, Chief Finance Officer, UPDC Plc during the Facts Behind the Right Issue presentation at the Exchange in Lagos. FIle

Adebayo Obajemu

UACN Property on 27th October, 2020 released its unaudited financial results for the period ended 30th September, 2020. The result revealed that the Company declined in Revenue by 75.81% to close the period at N458 million against the previous’ N1.895 billion in the corresponding period of 2019.

The Profit after Tax (PAT) in the other hand improved by 76.96% to close the period at a loss after tax of N3.4 billion against the previous loss of N14.7 billion in Q3’19.

With about 18 billion Share outstanding, the Shareholders’ earnings per share close at a deficit of 18 kobo from a deficit of 79 kobo recorded same period last year.

At a reference price of N0.82, the company’s PE Ratio is at -4.51x with earnings yield of -22.18%