Eterna posts N5.88bn half-year profit

Eterna Plc has announced a significant surge in profitability for the second quarter and half-year ended June 30, 2026, with revenue climbing by 38 per cent to N217.31bn. The company's financial performance has been bolstered by robust operating results across its various businesses. Gross profit more than doubled to N15.99bn, while operating profit reached N8.78bn from N2.34bn in the comparable period of 2025.

Profit before tax saw a remarkable increase of 389 per cent to N7.67bn, compared to N1.57bn a year earlier. Profit after tax also improved to N5.88bn, up from N573.81m, and earnings per share rose to N2.69 from N0.44. The company's financial position has also strengthened, with total assets totaling N82.75bn as of June 30, 2026.

Eterna's Managing Director/Chief Executive Officer, Dr. Jude Nwaulune, attributed the positive results to disciplined execution across operations, highlighting that the robust financial performance provides a solid foundation for advancing the company's growth objectives. The Rights Issue has further enhanced the balance sheet, resulting in a healthier leverage position and improved net assets.

The full unaudited consolidated financial statements for the half-year are accessible on Eterna's website.