UACN Property Development Company Plc announced audited earnings results for the full year ended December 31, 2017. For the full year, the company reported turnover of NGN 4.0 billion compared with NGN 5.0 billion for the same period a year ago. Loss before tax was NGN 3.1 billion compared with NGN 1.2 billion for the same period a year ago. Increase in loss mainly driven by high finance costs due to high borrowing rates and inability to pass finance costs to unsold inventory.