UAC Foods Plc reported a 39 per cent decline in profit for the 2025 financial year to N9.91 billion, down from N16.31 billion recorded in 2024.
This is according to the company’s audited financial statements for the year ended 31 December 2025, as released to the Nigerian Exchange Ltd. on Monday.
The company’s profit before tax also fell by 36 per cent to N16.43 billion from N25.55 billion in the previous year, largely impacted by a sharp increase in finance costs.
Net finance cost stood at N15.50 billion in 2025, compared with a net finance income of N5.96 billion in 2024, representing a significant negative swing of 360 per cent.
In spite of the drop in profitability, the group recorded a strong revenue performance, with turnover rising by 73 per cent to N340.47 billion from N196.90 billion in 2024.
Operating profit grew by 51 per cent to N28.49 billion, compared with N18.87 billion recorded in the corresponding period of 2024, indicating improved efficiency in core operations.
Total equity increased by five per cent to N69.77 billion in 2025 from N66.41 billion in 2024, while total equity and liabilities surged by 279 per cent to N597.06 billion from N157.73 billion.
Cash and cash equivalents rose by 25 per cent to N50.91 billion, up from N40.59 billion in the previous year.
Earnings per share declined by 27 per cent to 362 kobo from 497 kobo in 2024.
The company’s market capitalisation rose by 189 per cent to N266.28 billion from N92.17 billion.
BY NKECHI NAECHE-ESEZOBOR—The Nigerian Communications Commission (NCC) has recognised and rewarded its top-performing staff in a move that underscores its commitment to excellence and innovation, spotlighting employees whose contributions are helping to accelerate Nigeria’s digital transformation and strengthen the country’s telecommunications landscape.
The event, which took place in Abuja, brought together major stakeholders from across the telecommunications sector and reiterated the Commission’s goal of building “a more connected and prosperous Nigeria” for digital users across the country.
Speaking at the ceremony, Chairman of the NCC Governing Board, Idris Olorunnimbe, described the occasion as a milestone for the organisation, emphasising the critical role of its workforce in achieving its strategic goals.
“This is a moment of pride as we celebrate the very core of our organisation—our outstanding staff.”
Olorunnimbe stressed that the Commission’s successes are anchored in the commitment of its personnel, whose creativity, resilience, and consistent dedication continue to propel its progress.
He further noted that institutions thrive when they invest in developing their people, adding that NCC employees reflect the highest levels of professionalism and service excellence.
BY NKECHI NAECHE-ESEZOBOR—In a time when confidence in insurance is steadily growing, a satisfied customer of Mutual Benefits Assurance Plc is sharing his experience to encourage more Nigerians to embrace the value of protection and peace of mind.
Mr. Abdelhamid Abdelrahman of RAP Building Solutions Ltd recently applauded the company for its swift claims settlement and attentive customer service, describing his journey as clear evidence that insurance truly works when managed by a dependable provider.
Abdelrahman explained that his decision to insure his vehicles with the company was influenced by its strong reputation and visible presence within his business environment in Lagos. Easy access to one of its offices also gave him added confidence, allowing for seamless interaction and support whenever needed. Four years on, he remains a loyal customer.
He said: “I had my doubts at some point, thinking that because they are one of the oldest insurance companies, perhaps their service might not be as efficient. But when I had a vehicle claim in 2023, it was processed in no time.”
He added that subsequent claims involving other vehicles in his fleet were handled just as efficiently, further strengthening his confidence in the company.
“Since then, I have felt that whenever I have a vehicle, I will always subscribe to their packages and services. Mutual Benefits may be one of the oldest, but they are still one of the most responsive insurance companies in Nigeria.Their response to customers’ questions and feedback is very fast. I have no regrets partnering with them,” he stated.
Abdelrahman also used the opportunity to encourage Nigerians who remain sceptical about insurance to reconsider their views.
“Many people believe insurance does not work in Nigeria, but it does. When the time comes to make a claim and it is handled smoothly, then you know insurance truly works,” he said.
Industry experts have repeatedly noted that prompt claims settlement remains one of the strongest indicators of trust and credibility in the insurance sector. According to analysts, customers are more likely to retain policies, renew coverage and recommend insurers when claims are paid quickly and transparently.
They explain that efficient claims management not only provides financial relief during difficult times but also helps improve public perception of insurance as a dependable financial safety net. In markets where scepticism exists, real customer experiences and timely claims payments often play a critical role in driving adoption.
Mutual Benefits Assurance Plc has consistently positioned prompt claims settlement as a core part of its customer promise, with billions of naira paid out monthly across life and general insurance categories.
As economic uncertainties continue to heighten the need for financial protection, stakeholders say insurers that deliver swift and seamless claims experiences are likely to enjoy stronger customer loyalty and wider market acceptance.