PZ Cussons Nigeria Plc has reported a profit after tax of N5.54bn for the year ended May 31, 2025, recovering from a loss of N76.02bn recorded in the corresponding period of 2024.

The unaudited financial statements released by the company on the Nigeria Exchange Limited on Monday showed a 40 per cent increase in revenue, which rose to N212.63bn from N152.25bn in the previous year. Gross profit stood at N57.70bn, up from N54.13bn recorded in 2024.

Operating profit improved to N17.31bn, compared to an operating loss of N127.43bn in the prior year. Profit before tax also rose to N16.86bn, representing a 116 per cent increase from the loss of N108.10bn previously recorded.

The improvement in performance was largely driven by a reduction in foreign exchange losses and improved operational efficiency.

The company reported a forex loss of N7.78bn, compared to a much higher N157.92bn loss in the previous year.

Tax expenses for the year amounted to N11.32bn, compared to N32.17bn in 2024.

Profit attributable to equity holders of the parent company was N5.64bn, compared to a loss of N68.41bn in the prior year. Basic and diluted earnings per share turned positive at N1, up from a loss per share of N19.

Cost of sales rose to N154.9bn from N98.1bn, resulting in a gross profit of N57.7bn for the year, slightly higher than the N54.1bn posted in 2024.

Interest income rose to N1.33bn from N1.11bn, while interest expenses dropped slightly to N3.59bn, resulting in a net interest cost of N2.26bn. Profit before tax for the year stood at N16.8bn, up from a loss of N108.2bn in 2024.

PZ Cussons’ earnings per share rose to N1.00.

The PUNCH reported that PZ Cussons Plc has agreed to sell its 50 per cent stake in PZ Wilmar Limited to its joint venture partner, Wilmar International Limited, for a cash consideration of $70m, marking its full exit from the Nigerian palm oil business it co-founded in 2010.