UAC Expecting Decline In Q2 Income

UAC Plc - the parent company of leading Nigerian convenience foods company UAC Foods - has announced that it expects second quarter (three months to June 30 2010) net income to halve to about NGN1.53bn (US$10.15mn) year-on-year (y-o-y). Although no official commentary has been provided on why headline earnings are set to weaken, a sharpening in input costs over the past year is likely to be a factor. One of Nigeria's largest food and drink (F&D) companies, UAC holds assets in the convenience food, dairy and bottled water industries and in FY07, its food and beverage business contributed close to

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