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PZ Cussons Nigeria Plc has returned to positive shareholders’ equity of N66.6 billion after settling outstanding debt obligations, reversing a negative equity position of N17.3 billion recorded in the previous financial year.
The company disclosed this in its audited financial results for the financial year ended May 31, 2026, showing a significant improvement in its financial position alongside higher revenue and profit. Profit after tax (PAT) rose by 349 per cent to N45.2 billion from the previous year, while profit before tax increased to N77.3 billion.
The company’s revenue also rose by 22 per cent to N260.46 billion from N212.63 billion recorded in the corresponding period of 2025. The Board has proposed a dividend of N2.50 per share for the financial year, subject to shareholders’ approval at the Annual General Meeting scheduled for October 28, 2026.
The results showed that recurring operating profit increased by 117 per cent to N37.1 billion, reflecting an improvement in the company’s underlying operations. Total operating profit rose to N77.1 billion, supported by improved business performance and non-recurring income, principally from scrap sales and gains on the disposal of non-core assets. The company said the N77.1 billion operating profit was driven by a combination of organic business performance, currency gains and the disposal of non-core assets.
According to the Company Secretary, Oghenekevwe Ogefere, the improvement in the financial position was supported by stronger profitability, disciplined capital allocation, effective foreign exchange exposure management and the settlement of outstanding debt obligations.
“The performance reflects the commitment of the company’s people, continued investment in priority brands, product innovation, improved route-to-market execution, and disciplined cost management,” she said.
Ogefere said the company’s balance sheet had strengthened following the return to positive equity. “We have a business that has strong brands, an adaptive operating framework, and a culture of disciplined execution that supports the consistent delivery of value to stakeholders,” she said.
The company’s proposed dividend, if approved by shareholders, will provide a return to shareholders following the significant improvement in earnings during the year. The financial results also showed that the company’s operating performance improved despite the challenges associated with the operating environment, with recurring operating profit rising more than twofold during the period.
PZ Cussons Nigeria said its Board and management would focus on sustaining profitable growth, strengthening the balance sheet and creating long-term value for shareholders and other stakeholders.
