PZ Cussons’ Profit Soars 349% to N45.2bn

………Proposes Dividend Payment Of N2.50k Per Share

PZ Cussons Nigeria Plc recorded a remarkable turnaround in its 2026 financial year, with revenue rising to N260.46 billion and profit after tax surging by 349 per cent to N45.2 billion

The consumer goods manufacturer also proposed a dividend of N2.50 per share, subject to shareholders’ approval at its Annual General Meeting scheduled for October 28, 2026.

The company’s audited financial results for the year ended May 31, 2026, showed that revenue increased by 22 per cent from N212.63 billion recorded in the corresponding period of 2025.

Recurring operating profit also jumped by 117 per cent to N37.1 billion, reflecting stronger underlying business performance.

In a statement issued by the Company Secretary, Oghenekevwe Ogefere, total operating profit rose significantly to N77.1 billion, supported by improved operational performance and non-recurring income, particularly from scrap sales and gains arising from the disposal of non-core assets.

She said the strong performance demonstrated the company’s commitment to investing in priority brands, driving product innovation, improving its route-to-market strategy, and maintaining disciplined cost management.

The company also recorded a major improvement in its financial position, with total equity returning to positive territory at N66.6 billion as of May 31, 2026, compared with a negative equity position of N17.3 billion in the preceding financial year.

Profit before tax climbed to N77.3 billion, while profit after tax rose sharply to N45.2 billion.

According to Ogefere, the improved financial performance was supported by stronger profitability, disciplined capital allocation, effective management of foreign exchange exposure, and the settlement of outstanding debt obligations.

She added that the N77.1 billion operating profit was driven by a combination of organic business growth, currency gains, and proceeds from the disposal of non-core assets.

Ogefere expressed appreciation to shareholders for their continued support during what she described as a challenging 12-month period.

“We have a business that has strong brands, an adaptive operating framework, and a culture of disciplined execution that supports the consistent delivery of value to stakeholders,” she said.

She said the board and management would remain focused on sustaining profitable growth, strengthening the company’s balance sheet, and delivering long-term value to shareholders and other stakeholders.