UPDCREIT Declines Net Income by 4.82% to N1.108bn in Half Year 2020

UPDC Real Estate Investment Trust on 27th July, 2020 released its half year financial results for the period ended 30th June, 2020. The result revealed that the Company declined in Net Income by 4.82% to arrive at N1.108 billion against the previous’ N1.164 billion in the corresponding period of 2019.

The Profit after Tax (PAT), also dipped by 13.96% to close the period at N816.6 million against the previous close of N949 million in HY’19.

With about 2.6 billion Share outstanding, the Shareholders’ earnings per share fell by 14% to close at N0.31 from N0.36 recorded same period last year.

At a reference price of N3.80, the company’s PE Ratio is at 12.42x with earnings yield of 8.05%.










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