Macroeconomic conditions in 2024 on had it effects on the performance of the company first quarter 2024 performance, with low growth, inflation record, high interest rates, and naira devaluation. The Q1’2024 performance of all the companies under the conglomerate sector, UACN appeared to be one of the least performing companies in regards to their share price appreciation. Their share price recorded the least in price appreciation as at the end of Q1’2024 the price stood at N13.75, which shows a rise of about 43.98 per cent compared to N9.55 in the closed prices recorded for Q1’2024 and Q1’2023 respectively.
| Company | Open Price (Q1’2024) | Close Price (Q1’2024) | Change | %Change |
| CHELLARAM | 4.15 | 4.1 | -0.05 | -0.01 |
| CUSTODIAN | 9 | 9 | 0 | 0 |
| JOHNHOLT | 2.32 | 1.98 | -0.34 | -0.15 |
| SCOA | 1.81 | 1.96 | 0.15 | 0.08 |
| TRANSCORP | 9.52 | 13.6 | 4.08 | 0.43 |
| UACN | 14.1 | 13.75 | -0.35 | -0.02 |
DEDUCTION
In 2023, UAC of Nigeria PLC returned to profitability following positive impacts of exchange rate movements on the consumer goods company earnings. In its audited financial statement, UACN posted a net profit of N8.9 billion, reversing a previous net loss of N4.0 billion in 2022. We foresee a brighter future in price appreciation and profitability as data from Q1’2023 and Q1’2024 shows price improvement.
