May & Baker’s 9M pre-tax profit rises 81.5% to N8.92 billion

May & Baker Nigeria Plc reported a significant increase in pre-tax profit for the nine months ending September 2026, up 81.5% year-on-year to N8.92 billion. This marked a substantial rise from N4.92 billion in the same period last year. The pharmaceutical and consumer products manufacturer also saw a rise in revenue, reaching N30.97 billion, up 4.89% from N29.53 billion in the previous year.

The third quarter of 2026 saw the company's pre-tax profit grow to N4.07 billion, compared to N1.70 billion in the same quarter in 2025. This followed a N1.32 billion increase in pre-tax profit for the entire nine months of 2026.

The company's operating cash flow improved, increasing to N5.25 billion in the nine months to September 2026, up from N2.13 billion in the corresponding period of 2025. This positive cash flow trend indicates strong operational performance.

Total external debt decreased to N3.25 billion by September 2026, a reduction of 49.34% from N6.42 billion a year earlier. This indicates a decrease in borrowing, reflecting better financial management.

Total assets grew to N34.46 billion, a 33.80% rise from N25.75 billion in September 2025. This growth in assets, coupled with increased cash balances of N7.16 billion, up 32.36% year-on-year, suggests improved financial health and operational efficiency.

The company's share price also showed a remarkable increase, from N16.30 in September 2025 to N39.20 as of September 2026, marking a significant year-on-year rise of approximately 140.49%. This increase in share price, along with improved earnings and cash flow, paints a positive picture of May & Baker's financial performance and growth prospects.