UP: A firm on the balance


By Taofik Salako Deputy Group Business Editor

 

University Press (UP) Plc recorded decline in sales but improved cost and internal operating efficiency supported the bottom-line, enabling the printing and publishing company to sustain dividend payout.

Audited report and accounts of UP for the year ended March 31, this year showed that sales dropped by 10.8 per cent during the period. However, cost of sales and operating expenses also reduced considerably, with a zero-leveraged balance sheet supporting the profit and loss accounts to overall positive performance outlook.

Underlying profitability and returns ratios were generally positive, with four percentage growth in gross profit margin.

The board of the company has recommended distribution of N64.71billion to shareholders as cash dividend for the business year, representing a dividend per share of 15 kobo.

 

Financing structure

Total assets dropped marginally from N3.49 billion in 2019 to N3.47 billion in 2020. The decline…



Read All From The Original Article on The Nation

Be the First to get breaking news in Nigeria. Download All Naija Media App Now.  Also. Advertise with us.

%d bloggers like this: