PZ Cussons Nigeria Plc has announced a remarkable 349 percent increase in its profit after tax (PAT), reaching N45.2 billion for the financial year ending May 31, 2026. This significant growth is attributed to enhanced operating performance, foreign exchange gains, and successful asset disposals, as detailed in the company's audited financial results released to the Nigerian Exchange Limited (NGX).

The company's revenue also saw a notable rise, increasing by 22 percent to N260.46 billion, compared to N212.63 billion in the previous year. This growth reflects improved sales and operating performance across various sectors of the business. The surge in profitability is further evidenced by a 117 percent increase in recurring operating profit, which climbed to N37.1 billion during the same period. Total operating profit reached N77.1 billion, bolstered by a combination of enhanced core business performance and non-recurring income, particularly from scrap sales and the disposal of non-core assets.

Profit before tax also experienced a substantial increase, amounting to N77.3 billion. The company's balance sheet showed significant improvement, with total equity turning positive at N66.6 billion as of May 31, 2026, a remarkable recovery from negative equity of N17.3 billion a year earlier. This turnaround highlights the company’s strengthened financial position.

PZ Cussons Nigeria attributes its impressive performance to several strategic factors, including disciplined capital allocation, effective management of foreign exchange risks, and the settlement of outstanding debts. Oghenekevwe Ogefere, the Company Secretary, emphasized that the results reflect the dedication of the company’s employees and ongoing investments in priority brands and product innovation. She noted that the N77.1 billion operating profit was driven by a mix of organic growth, currency gains, and proceeds from asset disposals.

The company has also proposed a N2.50 dividend per share, pending approval from shareholders at the upcoming Annual General Meeting scheduled for October 28, 2026. Ogefere expressed gratitude to shareholders for their continued support, highlighting the company's commitment to maintaining strong brands, adapting to market changes, and executing disciplined management practices.

As PZ Cussons Nigeria navigates an environment marked by high input costs and currency volatility, the management remains focused on sustaining profitable growth, enhancing its balance sheet, and delivering long-term value to shareholders and stakeholders alike.