Ikeja Hotel Announces Dividend, Posts N2.4Bbn Pre-Tax Profit in Q1 2025,

Ikeja Hotel Plc has announced its financial results for the first quarter ending March 31, 2025, revealing a pre-tax profit of N2.4 billion.

This represents an impressive year-over-year increase of 194.07%, compared to N845.4 million in Q1 2024. The surge in profit was driven by a significant rise in revenue, which reached N6.1 billion, marking a 56.99% increase from N3.8 billion in the same period last year.

The majority of the company’s revenue came from room accommodations, totaling N4.2 billion, with food and beverage sales contributing N1.4 billion. Despite an increase in the cost of sales, which rose by 35.77% to N3 billion, Ikeja Hotel’s gross profit grew to N3.1 billion, an 85.04% increase compared to N1.6 billion in Q1 2024.

Although sales and distribution expenses climbed by 37.60% to N210.5 million, and administrative expenses amounted to N519.2 million, Ikeja Hotel reported a 151.54% increase in profits from core operations, which stood at N2.4 billion. Additionally, the company declared a final dividend of 15 kobo per share, payable to shareholders listed on the register as of the close of business on July 4, 2025.

As of the close of trading on April 24, 2025, Ikeja Hotel shares were priced at N11.00, reflecting a year-to-date performance of 87.5% in the Nigerian stock market.