Haldane McCall profit jumps 30% on asset expansion

Haldane McCall Plc has reported a significant 30.2% increase in net profit to N540.87m for the nine months ended September 2026, driven by a 59.4% rise in revenue to N2.90bn and a 55.4% expansion in total assets to N32.73bn. The real estate firm's financial results highlight substantial investments in property development, with property, plant, and equipment increasing to N19.36bn and inventories rising to N11.58bn, partially due to N5.71bn invested in properties under construction.

Despite a rise in the cost of sales to N1.69bn, gross profit stands at N1.21bn, while operating profit grew by 37.1% to N850.16m. The company's management attributes the growth to long-term value creation, enhanced earnings capacity, and sustainable growth through disciplined execution and operational efficiency.

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