University Press Plc 2022 Annual Report

University Press PLC ( 2022 Annual Report

By Published On: January 24, 2023TYPE: Annual ReportsYear: 2022Period: Country: NigeriaSector: Printing & Publishing

University Press PLC ( listed on the Nigerian Stock Exchange under the Printing & Publishing sector has released it’s 2022 annual report.

The 2021 financial year saw increased economic activity globally, with the introduction of vaccines and gradual easing of measures to contain the COVID-19 pandemic. Nigeria’s economy grew by 3.4% in 2021, with a projected global economic growth rate of 5.9% for 2021 by the IMF. However, Nigeria faced inflationary pressures, high cost of products and services, exchange rate volatility, security challenges, and supply disruptions which negatively impacted businesses. The company recorded a 62% increase in revenue and a 263% increase in profit after tax compared to the previous year. Two new independent non-executive directors were appointed to the board and the company benefited from the loyalty and commitment of its human capital. Despite current challenges such as the ongoing Russian/Ukrainian war and projected fall in expansion in emerging markets and developing economies, the company is well-positioned to take advantage of emerging opportunities by focusing on customers and improving operating efficiency.

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University Press PLC 2022 annual report

Company Profile

University Press Plc (UPPLC) publishes, prints, markets and distributes books in Nigeria for the education and general reading sectors. Educational books cover curriculum titles for the pre-primary, primary, junior, senior secondary and tertiary sectors. The company also produces material for teacher training, research categories and general reading as well as dictionaries, encyclopedias and language and cultural publications. University Press Plc was founded in 1949 and formerly known as Oxford University Press Nigeria. The company started publishing and printing indigenous titles in 1963 when it came out with the first ever local educational publication in Nigeria. Today, University Press Plc is the oldest publishing house in Nigeria exporting to a broad selection of countries in the rest of Africa. Its company head office is in Ibadan, Nigeria. University Press Plc is listed on the Nigerian Stock Exchange