UPDC’s Q1 Financial Performance Analyzed in 4 Key Metrics.
UPDC Plc’s Q1 2024 Financial Performance Overview
- Profit Margin:
- Q1 2024: 45.3%
- Q1 2023: -18.2%
- Insight: Significant improvement, indicating higher earnings from sales after costs.
- Earnings per Share (EPS):
- Q1 2024: -1 kobo
- Q1 2023: -1 kobo
- Insight: Negative EPS remains unchanged, reflecting continued losses or excessive spending.
- Working Capital Ratio:
- Q1 2024: 419%
- Q1 2023: 404%
- Insight: Increased efficiency in converting assets to cash for meeting short-term obligations.
- Debt-to-Equity Ratio:
- Q1 2024: 122.7%
- Q1 2023: 127.3%
- Insight: Decreased reliance on borrowed capital, favoring equity financing.
Revenue Breakdown:
- Property Sales: N752 million
- Project/Asset Management Fees: N3.6 million
- UPDC Hotel Limited: N347 million
- Facility Management Surcharge: N197 million
Cost of Sales:
- Increased by 44% to N648 million from N448 million.
Key Points:
- Significant profit margin improvement.
- Ongoing losses indicated by negative EPS.
- Improved working capital ratio.
- Reduced debt-to-equity ratio.
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