The unaudited financial report for the period ended March 31, 2019 of University Press revealed that the group made a total N109mn in profit after tax (PAT), declining by 47% from the previous PAT of N207mn in the first quarter of 2018.
The Ibadan base Foremost Publishers of materials for educational and general reading company made a turnover of N2.315bn, up by 28% when compared with the previous turnover of N1.801%bn in the first quarter of 2018.
Profit before tax was down by 53%, settling at N165.5mn compared with the previous PBT of N354.6mn in the first quarter of 2018.
The earnings per share (EPS) for the first quarter of 2019 is N0.25, down by 47.45% when compared with the previous EPS of N0.48 in the first quarter of 2018.