spot_img
spot_img
26.2 C
Lagos
Sunday, August 14, 2022

UPDC Loss Widens to N2.51bn in Nine Months as Revenues Slide 75%

Must read

UPDC a property investment firm recorded a loss of N2.51 billion in the 9months period to September 2020.

Revenues fell by 75 percent to N458 million in September 2020, from N1.89 billion in the earlier 2019 period.

The firm recorded a gross profit of N107.9 million which was eroded by administrative expenses of N503 million.

Finance costs came in at N1.3 billion down from N2.21 billion in 2019, but it was unable to move the needle on the bottomline.

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article