UAC of Nigeria (UACN) H1 2026 Results: Revenue Hits ₦365bn

UAC of Nigeria PLC reported group revenue of ₦365bn for the first half of 2026, representing 231% growth over H1 2025 revenue of ₦110bn. The increase was driven primarily by the consolidation of C.H.I. Limited into the group's financials. Gross profit rose 270% to ₦105bn, with gross profit margin expanding 306 basis points to 28.6%. Operating profit grew to ₦49bn from ₦13bn in H1 2025, while profit before tax reached ₦34bn, up 210% year-on-year.

For Q2 2026 specifically, revenue was ₦174bn, gross profit ₦50bn, and profit before tax ₦12bn — 96% higher than Q2 2025. Basic earnings per share for H1 2026 stood at 658 kobo, compared to 238 kobo in H1 2025. Net finance costs rose sharply to ₦16bn in H1 2026 from ₦3.6bn in H1 2025, attributed to borrowings from the C.H.I. consolidation. Free cash flow reached ₦70.9bn in H1 2026, up from ₦8.8bn in H1 2025, supported by a ₦29.7bn reduction in inventory. Net debt declined by ₦37bn to ₦257bn over the half year, and the long-term debt-to-LTM EBITDA ratio improved to 1.6x from 3.2x at December 2025.