UAC reports higher nine-month profit as CHI acquisition reshapes its accounts

UAC of Nigeria reported ₦37.69 billion in profit before tax for the nine months ending 30 September 2026, up 262.5% from a year earlier. Its unaudited results, announced on 30 October and reported by Nairametrics on 31 October, also show revenue of about ₦523 billion. The reporting period covers nine months, not a completed financial year.

The revenue increase of 227.7% needs an important qualification. UAC acquired C.H.I. Limited in October 2025 and began including that business in its group accounts in the final quarter of that year. The 2026 comparison therefore includes a larger business group. It should not be interpreted as evidence that the same pre-existing operations sold more than three times as much.

Packaged Food and Beverages supplied ₦436.20 billion of nine-month revenue. Paints revenue rose 11.3% to ₦33.69 billion, but Edibles and Feed revenue fell 27.4%, and Quick Service Restaurants revenue declined 3.4%. The overall expansion thus sits alongside weaker sales in some divisions. A strong group headline does not mean that every business line grew.

Profit after tax reached ₦21.91 billion, while net finance costs rose to ₦23.94 billion from ₦5.74 billion. In its discussion of the third quarter, management links higher financing costs to borrowing following the CHI acquisition. The distinction between revenue, profit and financing costs is essential: more money entering a business does not all remain available after its expenses and obligations.

UAC also reported agreements to sell its interests in Livestock Feeds and DP World Logistics, subject to regulatory approval. These are proposed disposals under agreements, not completed sales. The filing says Livestock Feeds' results will remain included in group profit or loss until completion. Describing the company as already fully exited would go beyond the announcement.

For readers following Nigerian consumer businesses, the results show both the scale added by acquisition and uneven performance across existing divisions. The next questions concern integration, debt reduction and the completion of conditional transactions. Those are matters to track in later disclosures, not outcomes established by this interim report. The figures describe reported past performance and do not guarantee future profits.