UACN Plc’s debt fell to N307 billion in the first half of 2026 after stronger cash generation enabled the conglomerate to repay N37 billion, according to CardinalStone Research.
The research firm said UACN generated N70.9 billion in free cash flow during the period, up sharply from N8.8 billion in H1 2025, supported by improved operating performance and a reduction in inventory.
The stronger cash generation helped reduce the company’s total debt from N344.8 billion at the end of 2025 to N307 billion in the first half of 2026. CardinalStone said the fast deleveraging strengthened its confidence in UACN’s debt-reduction trajectory.
This has led the research firm to lower UACN’s FY2026 total debt forecast to N284 billion from N297 billion previously, as it expects continued debt reduction to improve the company’s balance sheet.
The debt repayment effect was also reflected in financing costs, which declined by 18.8 percent quarter-on-quarter in the second quarter of 2026, CardinalStone said.
