UPDC’s Q3 profit up 487% as share price dips by 77% YtD

UPDC has released its unaudited financial statements for the period ended September 30, 2024, reporting 487 percent growth in group profit after tax (PAT) to N407.237million as against loss after tax (LAT) of N105.280million in same period of 2023. The Group has businesses with activities in real estate and hotel management.

The N1.46 per share which UPDC closed on the local bourse as at October 23 represents a decrease by 77.19 percent year-to-date (YtD). The company has shares outstanding of 18,559,969,936 units.

As at 2.19 pm on Thursday, each share price rose to N1.59, up by 13kobo or 8.9percent. The share price had reached a 52-week high of N2.2 as against a 52-week low or N1.09.

Market cap crosses N60trn mark as Q3 earnings spur buy interest at Lagos Bourse

By Iheanyi Nwachukwu • October 24, 2024

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.