PZ Cussons Nigeria Plc has released its unaudited results for the half year ended 30 November 2025, posting a pre-tax profit of N37.9 billion.
This marks a sharp turnaround from the N5.5 billion pre-tax loss recorded in the corresponding period of 2024, with second-quarter earnings of N16.3 billion playing a key role in the recovery.
The rebound was driven by stronger revenue, foreign exchange gains, higher other income, and lower interest costs, which together restored profitability.
Key highlights (Half-year 2025 vs Half-year 2024)
- Revenue: N127.9 billion, +32.59% YoY
- Cost of sales: N93.6 billion, +34.80% YoY
- Gross profit: N34.2 billion, +26.91% YoY
- Foreign exchange gain: N8.6 billion (vs a N15.1 billion loss)
- Other income: N14.7 billion, +1,424.05% YoY
- Operating profit: N37.9 billion (vs a N3.3 billion loss)
- Pre-tax profit: N37.9 billion (vs a N5.52 billion loss)
- Total assets: N179.4 billion, +6.23% YoY
Strong top-line performance
PZ Cussons Nigeria Plc posted revenue of N127.9 billion for the half year ended 30 November 2025, rising from N96.4 billion a year earlier.
- The growth was driven by robust demand across its Hygiene, Baby, Beauty, Food & Nutrition, and Electricals segments.
While the cost of sales increased to N93.6 billion, up 34.80%, the company still delivered a solid gross profit of N34.2 billion, representing a 26.91% year-on-year rise.
Healthy operations
According to the half-year financial statements, selling and distribution expenses rose sharply to N11.6 billion, up 46%.
On a positive note, PZ Cussons reduced administrative expenses to N8.02 billion from N8.08 billion in 2024 and recorded an FX gain of N8.6 billion, reversing a N15.1 billion loss.
Most notably, other income surged to N14.7 billion, up 1,424.05%.
- Profit on disposal of fixed assets accounted for N14.2 billion of this figure, while rental income and scrap sales contributed N412.7 million and N150.3 million, respectively.
As a result, operations swung from a N3.3 billion loss in half-year 2024 to a N37.9 billion profit.
Bottom-line profits
The group reported interest income of N431.4 million and cut finance costs sharply to N473.7 million from N2.7 billion in the half year.
This supported a rebound in pre-tax profit to N37.9 billion, compared with a N5.5 billion loss a year earlier.
After accounting for income tax of N16.4 billion, profit after tax settled at N21.4 billion.
Balance sheet snapshot
Total assets rose to N179.4 billion, up 6.23% from N168.9 billion in the prior period.
- Inventories, a key current asset, accounted for N66.2 billion, while cash and cash equivalents stood at N45.5 billion.
Total equity rebounded to N4 billion from a N17.3 billion loss.
- Retained earnings, though still negative at N18.2 billion, improved from a loss of N38.7 billion.
On the liabilities side, PZ Cussons reduced total obligations from N186.2 billion to N175.3 billion.
PZ Cussons Nigeria shares have returned 93.42% year-to-date on NGX as of trading day ended 23 December 2025.
