PZ Cussons Nigeria Plc has strengthened its financial position after recording a 22 percent increase in revenue to ₦260.46 billion for the financial year ended May 31, 2026, from ₦212.63 billion recorded in the corresponding period of 2025.
The consumer goods manufacturer also proposed a dividend of ₦2.50 per share for the year, subject to shareholders’ approval at the company’s Annual General Meeting scheduled for October 28, 2026.
The audited results show a significant improvement in profitability and balance sheet strength, with recurring operating profit more than doubling by 117 percent to ₦37.1 billion.
Total operating profit rose to ₦77.1 billion, buoyed by stronger underlying business performance, currency gains and non-recurring income, including proceeds from scrap sales and gains realised from the disposal of non-core assets.
The company’s improved earnings performance translated into a recovery in its financial position. Total equity stood at a positive ₦66.6 billion as of May 31, 2026, compared with a negative ₦17.3 billion in the previous financial year.
Profit before tax climbed to ₦77.3 billion, while profit after tax increased to ₦45.2 billion, reflecting the combined impact of stronger operating performance, disciplined capital allocation, foreign exchange exposure management and the settlement of outstanding debt obligations.
In a statement on the results, Oghenekevwe Ogefere, company secretary, said the performance 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 company’s ₦77.1 billion operating profit was driven by a combination of organic business performance, currency gains and the disposal of non-core assets.
Ogefere expressed appreciation to shareholders for their support as the company navigated the challenges of the past 12 months.
“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 added that the board and management remained focused on sustaining profitable growth, strengthening the balance sheet and creating long-term value for shareholders and other stakeholders.
The proposed ₦2.50 per-share dividend will, however, require approval by shareholders at the October 28 AGM before payment can be effected.
