Zichis Agro-Allied Industries Plc recorded a 163 per cent year-on-year increase in revenue to N1.22 billion in the nine months ended September 30, 2026, while profit before tax rose 179 per cent to N561.32 million.
The company’s unaudited financial statements showed that revenue increased from N464.20 million in the corresponding period of 2025, while profit before tax rose from N201.04 million.
Profit after tax climbed 222 per cent to N536.22 million from N166.54 million, while total comprehensive income increased to N564.80 million from N166.54 million, representing a 239 per cent growth.
Gross profit rose to N781.07 million from N251.39 million, as revenue growth outpaced the increase in cost of sales, which climbed to N438.04 million from N212.81 million.
However, administrative expenses increased to N219.75 million from N50.35 million in the corresponding period of 2025, reflecting higher operating costs during the period.
A breakdown of revenue showed that egg sales contributed the largest share at N394.72 million, followed by feed mill products at N293.93 million.
Palm oil produce generated N235.53 million, chicken sales contributed N211.34 million, while fish accounted for N83.60 million.
The company’s earnings per share increased 68 per cent to N0.47 from N0.28, while shareholders’ funds rose 63 per cent to N1.65 billion from N1.01 billion.
On the balance sheet, total assets stood at N8.71 billion as of September 30, 2026, compared with N1.06 billion in the corresponding period of 2025. Property, plant and equipment accounted for N6.93 billion, up from N702.92 million a year earlier.
Current assets increased to N1.78 billion, supported by inventories of N988.42 million, cash and bank balances of N373.88 million, and debtors and prepayments of N189.50 million.
Total liabilities rose to N7.06 billion, comprising N7.00 billion in non-current liabilities and N60.94 million in current liabilities. Non-current liabilities included N2.00 billion in long-term debt and N5.00 billion in deposits for shares.
Despite the growth in reported earnings, net cash flow from operating activities was negative N126.00 million, compared with a positive N54.28 million in the corresponding period of 2025. Cash and bank balances, however, increased to N373.88 million from N8.46 million.
Zichis Agro-Allied Industries is engaged in oil palm cultivation, crude palm oil processing, poultry and fish farming, animal feed production and the sale of other agricultural produce.
