By Alex C
University Press Plc has declared a Profit Before Tax of N348.1 million for the year ended March 31, 2014. While this figure represents an 11.5 percent decline from the N393.3m PBT it posted for the financial year ended March 31, 2013, the company also posted a 10.3 percent drop in Profit After Tax (PAT) for the financial year under review.
According to the company’s financials, University Press recorded a PAT of N233.9million for the year ended March 31, 2014 as against N260.7million for the previous year. The company’s gross profit dipped by 0.8 per cent, declining from N1.175 billion it recorded in 2013 to N1.166bn recorded in its 2014 financials.
The company witnessed a growth in revenue from N2.313billion in 2013 to N2.438billion in 2014 while its total assets rose to N2.973billion in 2014 from N2.822billion it posted in its 2013 financials.
The company’s revenue was derived from the sales of printed books within and outside the country. The bulk of the company’s revenue accrue from the sales in the Northern zone (N1.138billion) of the country. From the western zone, it generated N799.1milllion while it got N502.7million from the eastern zone