Nigerian local conglomerate UACN’s 2012 pre-tax profit rose by 53.6 percent to 10.74 billion naira ($67.89 million), from 6.99 billion naira the previous year, the company said on Thursday.

Turnover rose 16.8 percent to 69.63 billion naira, compared with 59.64 billion naira in 2011.

 

UACN, which has interest in food business with South Africa’s Tiger Brand, proposed a dividend of 1.60 naira, compared with 1.5 naira paid a year earlier and a bonus issue of one share for every five held.

Source: Reuters (Reporting by Oludare Mayowa)