The Directors of PZ Cussons Plc, a leading manufacturer of personal healthcare products and consumer goods, has announced a revenue of N260.46 billion for the full-year ended May 31, 2026, representing 22% growth over the N212.63bn reported in the corresponding period in 2025.
Net profit for the period grew by a more impressive 388% from N10.066bn to N49.099bn, representing earnings per share of N11.80, compared to N2.30 in the corresponding period of last year. The growth in net profit was despite the 328% jump in income tax expense toi N28.219bn from just N6.593bn.
The significant growth was driven by the combination of foreign exchange profit and other income for the period.
A breakdown of the unaudited financial results shows that cost of sales increased by 21% to N187.191bn from N153.926bn; leaving gross profit at N73.265bn, up from N57.708bn. Selling and distribution expenses was up by 48% from N17.895bn from N26.514bn; administrative expenses rose to N21.07bn from N14.701bn; foreign exchange profit jumped to N11.835bn, a 252% .leap from N7.784bn loss recorded in the corresponding period of last year; just as other income amounted to N39.822bn, which was 2,113% growth over the N1.799bn earned last year; resulting in operating profit of N77.059bn from N18.922bn or 307%.
Interest income dropped from N1.370bn to N1.224bn; while interest cost dropped to N965.436m from N3.632bn; resulting in net interest income of N259.008m from N2.261bn. Profit before tax, therefore stood at N77.318bn, up from N6.66bn.
Commenting, Chief Executive Officer of PZ Cussons, Oghale Elueni, the company’s strong performance was largely driven by the strength of the business, the equity of the brands, and the discipline of execution.
He explained that despite the complex and consistently challenging operating environment, the company pulled through to deliver growth in both revenue and profit. He disclosed that the 22% revenue growth recorded for the 2026 financial year was influenced by a healthy mix of volume and price initiatives.
“The balance sheet was further de-leveraged and strengthened through a cash-accretive P&L and efficient working capital management. The impact has been an improvement in the net asset position from ₦17.3bn negative at the beginning of the year to ₦70.6bn at year-end. The business grew volumes in both the electrical and consumer business, leveraging investment in our brands and sharpening our go-to-market capabilities. The result has been market share gains for our major brands, increased household penetration and robust volume uplift, contributing to overall revenue growth,” he added.
He expressed profound appreciation to the shareholders for their unwavering support in navigating through the challenges in the last 12 months. He also noted that the board remains confident that, despite geopolitical uncertainties and their attendant economic shocks, the business is sufficiently resourced to deliver value to stakeholders. “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,” he stated.
