PZ Cussons Nigeria reports USD 56.19M profit in FY26
However, profit after tax climbed even faster, by 387.74%, to N49.10 billion (USD 35.84 million), up from N10.07 billion (USD 7.4 million) a year earlier.
NIGERIA – PZ Cussons Nigeria Plc has posted a strong financial result for the year ended May 31, 2026, with pre-tax profit surging 364.08% to N77.32 billion (USD 56.19 million) from N16.66 billion (USD 11.82 million) in the same period of 2025.
On a quarterly basis, fourth-quarter pre-tax profit jumped to N9.12 billion (USD 6.7 million) from N1.69 billion (USD 1.23 million) in Q4 2025, and post-tax profit turned around sharply to N9.985 billion (USD 7.29 million) from a loss of N1.22 billion (USD 890, 511) in the prior-year quarter.
The company attributed the strong performance to disciplined execution, brand strength, and a resilient portfolio that delivered growth despite a volatile operating environment.
Revenue rose 22.49% year-on-year to N260.46 billion (USD 190 million) from N212.63 billion (USD 115.12 million), driven by a combination of volume and price initiatives, stronger performance in the electrical and consumer goods segments, increased brand investment, and improved route-to-market execution.
Gross profit outpaced revenue growth, increasing 26.96% to N73.27 billion (USD 53.5 million) from N57.71 billion (USD 42.12 million), pushing gross margin to 28.13% from 27.14%.
Operating profit recorded the most improvement, soaring 307.24% to N77.06 billion (USD 56.26 million) from N18.92 billion (USD 13.81 million), supported by revenue growth, a N11.84 billion ( USD 8.64 million) foreign exchange gain (reversing a N7.78 billion (USD 5.68 million) loss in 2025), and a significant rise in other income to N39.82 billion (USD 29.05 million) from N1.80 billion, largely due to proceeds from the sale of three properties.
While costs rose, selling and distribution expenses increased to N26.51 billion (USD 19.35 million) from N17.90 billion 9USD 13.07 million), administrative expenses climbed to N21.07 billion (USD 15.38 million) from N14.70 billion (USD 10.73 million), and impairment of trade receivables edged up to N278.86 million (USD 203.57 million) from N203.56 million (USD 148.55 million).
These pressures were more than offset by stronger gross profit, FX gains, and higher other income.
Finance costs also dropped sharply to N965.44 million (USD 704.7 million) from N3.63 billion (USD 2.65 million), reflecting reduced borrowings, which contributed to the substantial rise in pre-tax and post-tax profits despite a higher income tax charge of N28.22 billion (USD 20.6 million).
Meanwhile, the balance sheet strengthened considerably as the company deleveraged aggressively, with group borrowings falling 91.72% to N5.90 billion (USD 4.31 million) from N71.27 billion (USD 52 million), and parent company borrowings fully repaid, declining from N63.87 billion to zero.
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