PZ Cussons Nigeria Posts 40% Revenue Growth

PZ Cussons Nigeria Plc has released its financial statements for the year ended May 31, 2025, showcasing a remarkable turnaround in performance. The company reported a 40% increase in revenue, rising to ₦212.6 billion from ₦152.2 billion in the previous year.

Operating profit surged to ₦18.9 billion, a significant recovery from the ₦124.5 billion loss recorded in 2024. Profit before tax stood at ₦16.7 billion, while profit after tax reached ₦10.1 billion, reversing the prior year’s loss of ₦90.3 billion.

The company attributed its improved performance to strategic operational efficiencies and a resilient market approach. Earnings per share rose to ₦2.32, compared to a loss of ₦20.83 per share in the previous year. The total number of employees decreased slightly to 867 from 946.

Despite the positive financial results, the Board did not recommend a dividend for the year. PZ Cussons Nigeria Plc maintained compliance with the Nigerian Exchange’s free float requirements, with a free float of 19.58% as of May 2025.

The company’s board saw several changes during the year, including the appointment of Mr. Kareem Moustafa, Mr. Richard Walker, and Chief Anthony Ikemefuna Idigbe as Non-Executive Directors. Mr. Kevin Massie and Mr. Brian Egan resigned from their roles, with Mr. Oludare Ebenezer Elusakin stepping in as Chief Finance Officer.

PZ Cussons Nigeria Plc reaffirmed its commitment to corporate governance, internal control, and shareholder engagement. The Board met twelve times during the year, and its committees—Audit and Risk Management, Governance and People, and Statutory Audit—held multiple sessions to oversee operations and compliance.

The company’s principal activities remain focused on the manufacture and distribution of consumer products and home appliances, with a strong presence in detergents, soaps, cosmetics, and white goods. It continues to invest in research and development, employee training, and health and safety initiatives.

No shares were repurchased during the year, and no political donations were made. The company encouraged shareholders to adopt e-dividend and e-bonus options for improved efficiency.

Independent auditors PricewaterhouseCoopers confirmed their willingness to continue in office, pending shareholder approval at the upcoming Annual General Meeting.