Site icon Business Hallmark

UPDC REIT posts N2.16bn revenue in 12 months

Obinna Ezugwu
UACN, others lift NGX to 0.42% weekly close

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

UPDC Real Estate Investment Trust Plc for the period ended 31 December 2022 reported turnover of N2.16 billion. This represents 157.26% growth from the negative revenue of N3.78 billion reported the previous year.

Profit after tax of N1.596 billion was reported for the 12 months period, up by 135.62% from the loss after tax of N4.48 billion reported the previous year.

Earnings per share of the company increased to 60 kobo from the negative EPS of N1.68 reported the previous year.

At the share price of N3.25, the P/E ratio of UPDC Real Estate Investment Trust Plc stands at 5.43x with earnings yield of 18.41%.

Exit mobile version