PZ Cussons Nigeria reported a 10 per cent increase in revenue for the first quarter of its 2027 financial year, while operating profit rose 46 per cent on improved margins and stronger underlying performance.
Revenue increased to N65.46 billion during the quarter, compared with N59.01 billion recorded in the corresponding period of the previous financial year.
The company’s unaudited results showed that cost of sales rose by 5 per cent to N45.06 billion from N43.11 billion a year earlier.
The slower growth in costs relative to revenue helped lift gross profit by 24 per cent to N19.78 billion, compared with N15.90 billion in the corresponding period.
Gross margin consequently improved to about 30.5 per cent from 26.9 per cent a year earlier.
Operating profit also strengthened during the quarter, rising to N8.54 billion from N5.85 billion, representing a 46 per cent increase.
Oghenekevwe Ogefere, company secretary of PZ Cussons Nigeria, attributed the performance to a favourable combination of volume and pricing, as well as the strength of the group’s brands across its key categories.
“Profit before tax was N9.09 billion, while profit after tax was N4.63 billion,” Ogefere said.
Despite the improvement in operating performance, profit before tax and profit after tax were lower than the corresponding period a year earlier, largely because the previous period benefited from a significant non-recurring gain.
PZ Cussons Nigeria recorded N15.74 billion in non-recurring gains in the corresponding period, compared with N510 million recorded in the current quarter.
The company said the results therefore reflected stronger underlying operations despite the absence of the substantial one-off gain recorded in the previous year.
Ogefere said the company remained focused on sustainable revenue growth, operational efficiency and strengthening the underlying performance of the business.
PZ Cussons Nigeria also said it would continue to focus on improving operating performance and delivering long-term value to its stakeholders.