Vitafoam Nigeria Plc has posted a turnaround in its financial performance for the year ended 30 September 2025, reporting a net profit of N14.54bn, a significant increase from the N952m recorded in the previous year.
The company’s revenue jumped to N111.38bn from N82.64bn in 2024, driven by strong demand across its product portfolio. Cost of sales increased to N70.42bn from N52.33bn, but gross profit rose sharply to N40.96bn from N30.31bn, reflecting improved operational efficiency.
Operating profit climbed to N27.28bn, more than triple the N7.05bn achieved in 2024, while profit before taxation soared to N21.48bn from N1.15bn. After accounting for taxation of N6.94bn, Vitafoam recorded a net profit of N14.54bn for the year. Basic earnings per share rose dramatically to 1,080 kobo from just 29 kobo in 2024.
Total comprehensive income, which factors in remeasurements, property revaluation losses, and foreign exchange differences, stood at N12.18bn, up from N9.82bn in 2024. Non-controlling interests contributed N1.03bn to the group’s overall earnings.
On the balance sheet, total assets increased to N65.28bn from N52.21bn, while total equity grew to N35.55bn from N25.03bn. The company’s current assets rose to N48.1bn, supported by a significant increase in inventories and cash and cash equivalents, which reached N9.02bn.
The PUNCH reported that Vitafoam Nigeria Plc increased revenue by 56 per cent to N82.58bn in the third quarter of 2024 from N52.99bn in the prior period of last year.
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