The Okomu Oil Palm Company published its audited 2025 results, reporting a pretax profit of N90.6 billion, up from N53.5 billion in 2024.
This performance was driven by solid top-line earnings, with revenue rising 52.18% year-on-year to N198.1 billion, compared with N130.2 billion in the previous year.
A closer look shows that palm, rubber, and oil processing activities generated N172.6 billion in Nigeria, while sales outside Nigeria contributed N25.5 billion.
The company declared a final dividend of N15 per 50 kobo share, payable on May 26, 2026, to shareholders on record as of the April 27, 2026, qualification date.
Key highlights (2025 vs 2024)
- Revenue: N198.1 billion, up 52.18% YoY
- Other income: N12.5 billion vs N15.3 billion
- Raw materials and consumables: N29.5 billion, up 30.47% YoY
- Employee benefits expenses: N31.03 billion vs N26.1 billion
- Pretax profit: N90.6 billion, up 69.26% YoY
- Post-tax profit: N57.9 billion, up 45.03% YoY
- Retained earnings: N48.9 billion vs N53.9 billion
Driving the numbers
Apart from customer revenue, the company also recorded ‘other income’ of N12.5 billion, down from N15.3 billion in the prior year.
- Within this total, realized foreign exchange gains contributed the most, totaling N8.7 billion and accounting for 69.53% of N12.5 billion.
On the cost side, raw materials and consumables expenses surged to N29.5 billion from N22.6 billion in 2024, driven mostly by plantation upkeep of N10.9 billion.
Similarly, employee benefit expenses spiked to N31 billion from N26.1 billion, with contract staff wages of N21.3 billion forming the bulk, reflecting higher staffing costs alongside operational growth.
- After accounting for depreciation of N21.9 billion, finance costs of N4.6 billion, other expenses of N34.7 billion, and fair value gains on biological assets of N1.7 billion, pretax profit reached N90.6 billion.
Following an income tax expense of N32.6 billion, post-tax profit settled at N57.9 billion, up 45.03% year-on-year.
- On the balance sheet, total assets rose to N138.8 billion from N117 billion, with property, plant, and equipment of N61.8 billion making up the bulk.
- Total liabilities increased to N90.04 billion from N61.5 billion, with trade and other payables at N14.5 billion forming the highest obligation.
On the equity side, total equity stood at N48.8 billion, down from N55.4 billion, while retained earnings were N48.9 billion.
Market reaction
The market is yet to react to Okomu Oil Palm’s audited results on the Nigerian Exchange, with the stock remaining flat at 0.00%, priced at N1,765.
Year-to-date, the stock is up 61.19% on the Nigerian Exchange, with over 19 million units changing hands.
