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PZ Cussons Nigeria’s revenue rose 22 percent to N260.46bn in the 2026 financial year.
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Profit after tax jumped 349 percent to N45.2bn, while recurring operating profit more than doubled to N37.1bn.
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The company’s equity returned to positive territory at N66.6bn from a negative N17.3bn, with the board proposing a N2.50 dividend per share.
September 01, (THEWILL) — PZ Cussons Nigeria Plc recorded a sharp improvement in profitability in the 2026 financial year, as profit after tax surged 349 percent to N45.2 billion, while revenue rose 22 percent to N260.46 billion.
The company disclosed the performance in its audited financial results for the year ended May 31, 2026, compared with revenue of N212.63 billion recorded in the previous financial year.
The stronger earnings performance also enabled the consumer goods manufacturer to return its balance sheet to positive equity, marking a significant improvement from the negative position recorded a year earlier.
Profitability strengthens
PZ Cussons Nigeria’s recurring operating profit rose 117 percent to N37.1 billion during the year, reflecting stronger underlying business performance.
Total operating profit increased to N77.1 billion, although the company said the figure was supported partly by non-recurring income, including proceeds from scrap sales and gains from the disposal of non-core assets.
Profit before tax also rose significantly to N77.3 billion, while profit after tax climbed to N45.2 billion.
The company attributed the performance to stronger business operations, continued investment in priority brands, product innovation, improved route-to-market execution and disciplined cost management.
It also cited effective foreign-exchange exposure management and the settlement of outstanding debt obligations as factors supporting the improvement in its financial position.
The company said currency gains and proceeds from the disposal of non-core assets also contributed to the N77.1 billion operating profit.
Equity returns to positive territory
One of the most significant developments was the reversal in the company’s equity position.
Total equity stood at N66.6 billion as of May 31, 2026, compared with negative equity of N17.3 billion in the preceding financial year.
The improvement represents a swing of N83.9 billion and indicates a substantial strengthening of the company’s balance sheet after years of financial pressure.
PZ Cussons Nigeria said the improvement was supported by stronger profitability, disciplined capital allocation, foreign-exchange management and the settlement of outstanding debt obligations.
The company said the result demonstrated the resilience of its business and its ability to improve financial performance despite operating challenges.
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Shareholders set for dividend
The Board of Directors has proposed a dividend of N2.50 per share for the financial year, subject to shareholders’ approval at the company’s Annual General Meeting scheduled for October 28, 2026.
The proposed payout signals the company’s return to stronger financial footing while maintaining its focus on rewarding shareholders.
PZ Cussons Nigeria said its priority going forward would be to sustain profitable growth, strengthen its balance sheet and create long-term value for shareholders and other stakeholders.
The company also expressed appreciation to shareholders for their support during the past year, describing its strong brands, adaptive operating model and disciplined execution as key foundations for future growth.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
