PZ Grows Profit by 348.7% in 2026FY, Declares N2.50 Dividend
Kayode Tokede PZ Cussons Nigeria Plc has announced N45.17 billion profit after tax in its audited financial statement for year ended May 31, 2026, about 348.7 per cent increase over
<PZ Cussons Nigeria Plc announced a remarkable 348.7% increase in its profit after tax for the year ended May 31, 2026, reaching N45.17 billion. This is a striking contrast to the N10.07 billion profit declared in the previous year's financial statement. The company's audited financial results, released on the Nigerian Exchange Limited (NGX), also revealed a significant surge in profit before tax, up 364.08% to N77.32 billion in 2026 from N16.66 billion in 2025.
The company proposed a dividend of N2.50 per share for the year ended May 31, 2026, marking a departure from the practice of not declaring any dividend previously. The company explained that the dividend is recognized as a liability only after approval by shareholders.
Revenue for the year 2025 stood at N260.46 billion, signaling a 22.5% growth from the previous year's N212.63 billion. The cost of sales for 2026 rose to N187.19 billion, a 20.8% increase from N154.93 billion in 2025. However, the cost of sales as a percentage of revenue decreased from 72.86% to 71.87% in 2026, driven by better mix and supply efficiencies.
Marketing and Distribution expenses saw a 48.2% increase, climbing from N17.89 billion in 2025 to N26.51 billion in 2026. Administrative expenses also increased, from N14.70 billion in 2025 to N21.07 billion in the 2026 financial year.
CEO Oghale Elueni attributed the company's strong performance to its robust business, brand equity, and disciplined execution. Despite the challenging operating environment, the company managed to grow revenue and profit. The balance sheet was strengthened through cash-accretive P&L and efficient working capital management, leading to an improvement in the net asset position from a negative N17.3 billion at the beginning of the year to N70.6 billion at year-end.
The company's growth in both volumes in the electrical and consumer business, coupled with market share gains and increased household penetration, contributed to the overall revenue growth. Elueni expressed gratitude to the shareholders for their unwavering support and confidence in the company's ability to deliver value despite geopolitical uncertainties and economic shocks.
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