UTC Nigeria Plc Books N 1.4 billion Profit in 2011 Earnings
UTC Nigeria Plc a leading processor and marketer of baked goods and meats has released its 2011 audited financial statements.
The company’s revenues took a slight hit, dropping 0.9% from N 2.82 billion in 2010 to N 2.79 billion at the end of the 2011 financial year.
The company recorded a loss of N 154 million before accounting for tax and exceptional items as against the N 79 million in profit before tax it recorded in 2010.
Surprisingly the company recorded a whopping growth of 1653% in net income, largely due to an extraordinary event recorded on its balance sheet. The extraordinary item was booked at N 1.56 billion.
Net Income was N 1.4 billion as opposed to N 79 million in 2010.
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
