PZ Cussons Nigeria Plc has posted a strong financial performance for the year ended May 31, 2026, recording a 349 per cent increase in profit after tax to N45.2 billion, compared with the previous year.
The consumer goods manufacturer also grew its revenue by 22 per cent, from N212.63 billion in 2025 to N260.46 billion in the 2026 financial year.
The impressive performance has prompted the company’s Board to recommend a dividend of N2.50 per share to shareholders, subject to approval at the Annual General Meeting scheduled for October 28, 2026.
The company’s audited financial statements showed that recurring operating profit more than doubled during the period, rising by 117 per cent to N37.1 billion.
Total operating profit also climbed to N77.1 billion, benefiting from stronger underlying business performance as well as gains from non-recurring transactions.
According to the company, the non-recurring income included proceeds from scrap sales and gains realised from the disposal of non-core assets, while currency gains also contributed to the overall operating result.
Profit before tax stood at N77.3 billion, reflecting a substantial improvement in the company’s earnings capacity during the financial year.
Beyond the increase in profitability, PZ Cussons Nigeria recorded a major improvement in its balance sheet. Total equity moved from a negative N17.3 billion in the preceding year to a positive N66.6 billion as of May 31, 2026.
The company attributed the turnaround to stronger profitability, prudent capital allocation, effective management of foreign exchange exposure and the settlement of outstanding debt obligations.
Commenting on the results, Company Secretary, Oghenekevwe Ogefere, said the performance was driven by sustained investment in priority brands, product development, improved route-to-market execution and tighter cost controls.
She also credited the company’s employees for their contribution to the stronger performance, stressing that the results reflected the organisation’s continued focus on operational discipline.
Ogefere explained that the N77.1 billion operating profit was generated through a combination of organic business growth, currency gains and proceeds from the disposal of non-core assets.
She thanked shareholders for their continued support, particularly during the challenges faced by the company over the past year.
According to her, the company now has a stronger platform for sustainable growth, supported by established brands, an adaptable operating model and a culture of disciplined execution.
“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 continue to prioritise profitable growth, further strengthen the balance sheet and enhance value creation for shareholders and other stakeholders.
The proposed dividend, if approved, will provide shareholders with a direct benefit from the company’s significantly improved earnings position, while the return to positive equity signals a substantial strengthening of its financial standing.
PZ Cussons Nigeria’s 2026 results therefore point to a marked improvement in both its operating performance and balance sheet, following a period of financial pressure and negative equity.
Leave a Reply