LAGOS, Nigeria — UAC of Nigeria Plc has delivered one of the strongest growth performances among Nigeria’s listed consumer goods companies this year, reporting a 231% year-on-year increase in revenue and almost tripling profit after tax during the first half of 2026, driven largely by the integration of CHI Limited into its packaged food and beverage business.
According to the Q2 Financial Statement sent to NGX, revenue rose to ₦364.97 billion in the six months ended June 30, 2026, from ₦110.41 billion a year earlier, while profit after tax increased to ₦20.03 billion, compared with ₦7.36 billion in H1 2025. Profit before tax also more than tripled to ₦34.45 billion from ₦11.10 billion, underscoring the scale of the company’s earnings expansion.
The performance places UAC among the fastest-growing companies in Nigeria’s consumer goods sector this reporting season, with revenue growth significantly outpacing inflation and most industry peers.
BuyerMetrics Growth Ranking
| Metric | H1 2026 | H1 2025 | Growth |
| Revenue | ₦364.97bn | ₦110.41bn | +230.6% |
| Gross Profit | ₦104.56bn | ₦28.26bn | +270.0% |
| Operating Profit | ₦48.97bn | ₦12.59bn | +288.8% |
| Profit Before Tax | ₦34.45bn | ₦11.10bn | +210.3% |
| Profit After Tax | ₦20.03bn | ₦7.36bn | +172.1% |
| EPS | 658 kobo | 238 kobo | +176.5% |
Source: BuyerMetrics calculations from UAC H1 2026 results.
Packaged Foods Now Dominates UAC
The biggest shift inside UAC’s business was the rise of its Packaged Food & Beverages division.
The segment generated ₦307.36 billion, accounting for about 84% of total Group revenue, making it by far the company’s largest business. It also produced ₦45.87 billion in operating profit and ₦33.56 billion in profit before tax, dwarfing contributions from the Group’s other operating divisions.
By comparison:
Revenue Ranking
- Packaged Food & Beverages — ₦307.4bn
- Edibles & Feed — ₦34.0bn
- Paints — ₦22.4bn
- Quick Service Restaurants — ₦1.2bn
The figures highlight how transformative the acquisition of CHI Limited has become for UAC’s earnings profile.
Operating Cash Flow Also Surged
Unlike many companies whose profits are driven mainly by accounting gains, UAC also reported significantly stronger cash generation.
Cash generated from operations rose to ₦82.31 billion, while net operating cash flow climbed to ₦74.32 billion, compared with ₦10.84 billion during the corresponding period last year.
What Investors Should Watch
Despite the strong earnings growth, investors may keep an eye on:
- Finance costs increased sharply to ₦26.83 billion, reflecting higher borrowing costs.
- Borrowings remained substantial at more than ₦307 billion when current and non-current loans are combined.
- Inventories declined from ₦214.53 billion to ₦184.79 billion, suggesting stronger inventory conversion.
BuyerMetrics Bottom Line
The bigger story here is that the company has changed league.
Following the integration of CHI Limited, UAC has transformed from a diversified holding company into a consumer goods group whose earnings are overwhelmingly driven by packaged food and beverages. Revenue has more than tripled, profits have nearly tripled, and operating cash flow has strengthened sharply.
If subsequent quarters sustain this pace, UAC is likely to rank among the standout performers in Nigeria’s consumer goods sector in 2026.
UAC’s earnings growth reflects the wider recovery in Nigeria’s consumer sector. Read our latest coverage of listed consumer goods companies and quarterly earnings to see how UAC compares with its peers.
