By Chinedu Okafor, African Business Correspondent
PZ Cussons Nigeria Plc has staged a remarkable turnaround, reporting a profit after tax of N21.4 billion for the half year ended November 30, 2025. This marks a sharp reversal from the N7.0 billion loss recorded in the same period of 2024.
According to unaudited interim results filed with the Nigerian Exchange Limited, the consumer goods giant saw revenues climb 33% year-on-year to N127.9 billion, up from N96.5 billion. The growth was driven by stronger pricing strategies, increased sales volumes, and improved market conditions.
Operating profit surged to N38.0 billion, compared with an operating loss of N3.3 billion in the prior year. Profit before tax stood at N37.9 billion, a significant recovery from the N5.5 billion loss previously, buoyed by higher gross margins and notable foreign exchange gains.
Gross profit rose to N34.3 billion from N27.0 billion, while foreign exchange gains totaled N8.6 billion, contrasting sharply with the N15.1 billion loss in 2024. After accounting for a tax charge of N16.5 billion, net profit settled at N21.4 billion. Earnings per share improved to N5.17, compared with a loss of N1.67 last year.
In the second quarter alone, PZ Cussons posted revenue of N68.9 billion and profit after tax of N7.9 billion, compared with a N2.4 billion loss in the same quarter of 2024.
On the balance sheet, total assets grew to N179.4 billion as of November 30, 2025, from N168.9 billion in May 2025, supported by higher inventories, trade receivables, and cash balances. Cash and cash equivalents rose to N45.5 billion from N40.7 billion.
Total equity rebounded to N4.1 billion, recovering from a negative position of N17.3 billion at the end of the last financial year. Retained losses narrowed significantly to N18.3 billion, down from N38.8 billion, underscoring the company’s strong earnings momentum.
