PZ Cussons Nigeria Plc has reported a 349 percent surge in profit after tax (PAT) to N45.2 billion for the financial year ended May 31, 2026, driven by stronger operating performance, foreign exchange gains and asset disposals.
The company, in its audited results released to the Nigerian Exchange Limited (NGX), also proposed a N2.50 dividend per share, subject to shareholders’ approval at its Annual General Meeting scheduled for October 28, 2026.
Revenue increased by 22 percent to N260.46 billion, compared with N212.63 billion recorded in the corresponding period of 2025, reflecting improved sales and operating performance across the business.
The sharp improvement in profitability was also reflected in the company’s operating results, with recurring operating profit more than doubling by 117 percent to N37.1 billion during the period.
Total operating profit rose to N77.1 billion, supported by improved underlying business performance and non-recurring income, principally from scrap sales and gains realised from the disposal of non-core assets.
Profit before tax also climbed substantially to N77.3 billion, while the company’s balance sheet strengthened considerably during the year.
According to the company, total equity turned positive at N66.6 billion as of May 31, 2026, compared with negative equity of N17.3 billion a year earlier, marking a significant improvement in its financial position.
The company attributed the performance to stronger profitability, disciplined capital allocation, effective management of foreign exchange exposure and the settlement of outstanding debt obligations.
The Company Secretary, Oghenekevwe Ogefere, said the results reflected the commitment of the company’s employees, continued investment in priority brands, product innovation, improved route-to-market execution and disciplined cost management.
She said the N77.1 billion operating profit was driven by a combination of organic business performance, currency gains and proceeds from the disposal of non-core assets.
The strong earnings performance comes as PZ Cussons Nigeria continues to strengthen its balance sheet while focusing on profitable growth and operational efficiency in an environment characterised by high input costs, currency volatility and changing consumer purchasing patterns.
Ogefere expressed appreciation to shareholders for their support during the past year, noting that the company had maintained strong brands, an adaptive operating framework and a culture of disciplined execution.
She added that the Board and management would remain focused on sustaining profitable growth, strengthening the balance sheet and creating long-term value for shareholders and other stakeholders.