PZ Cussons Nigeria Plc has bounced back into profit, posting a profit after tax of N5.54 billion for the year ended May 31, 2025. This marks a remarkable recovery from the loss of N76.02 billion it recorded in the same period in 2024.
Details of its unaudited results filed with the Nigerian Exchange Limited on Monday showed that the company grew its revenue by 40 per cent, reaching N212.63 billion, up from N152.25 billion in the previous financial year. Gross profit climbed to N57.70 billion, slightly higher than the N54.13 billion reported in 2024.
The firm’s operating profit saw a turnaround, hitting N17.31 billion compared to an operating loss of N127.43 billion last year. Profit before tax also rose significantly to N16.86 billion, up from a loss of N108.10 billion.
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PZ Cussons attributed this improved performance to reduced foreign exchange losses and better operational efficiency. The company’s forex loss dropped sharply to N7.78 billion, down from N157.92 billion in 2024.
Tax expenses for the year stood at N11.32 billion, down from N32.17 billion in the prior year. Profit attributable to equity holders rose to N5.64 billion, compared to a loss of N68.41 billion previously. Earnings per share turned positive at N1.00, recovering from a loss of N19.
The company’s cost of sales rose to N154.9 billion from N98.1 billion, but it still managed to post a healthy gross profit. Interest income improved to N1.33 billion, slightly up from N1.11 billion, while interest expenses dropped to N3.59 billion, resulting in a net interest cost of N2.26 billion.
Meanwhile, The PUNCH reported that PZ Cussons has agreed to sell its 50 per cent stake in PZ Wilmar Limited to Wilmar International Limited for $70 million. This deal marks its exit from the Nigerian palm oil venture, which began in 2010.
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