WorldStage– Morison Industries PLC has released its unaudited financial statements for the third quarter ended September 30, 2026, demonstrating strong top-line momentum and an accelerated bottom-line recovery during the third quarter.
The report highlights growing commercial traction across its core business lines, driven by a stellar performance in its fast-moving consumer and pharmaceutical segments, even as inflationary pressures and operating costs continue to shape the macroeconomic operating landscape.
Key Financial Highlights (9-Month Period Ended September 30, 2026)
Revenue: Rose by 25.18% year-on-year to N448.42 million, compared to N358.21 million recorded in the corresponding period of 2025.
Gross Profit: Expanded to N162.33 million, up 14.14% from N142.22 million in 9M 2025.
Profit Before Tax (PBT): Stood at N23.01 million, marking an 8.24% increase compared to N21.26 million reported in 9M 2025.
Profit After Tax (PAT): Also closed at N23.01 million (up 8.24% year-on-year from N21.26 million).
Total Assets: Strengthened significantly to N1.95 billion, up from N1.76 billion at the close of December 2025.
Total Equity: Stood robustly at N1.26 billion, reflecting an increase from N842.08 million at year-end 2025 following capital restructuring.
Q3 Standalone Performance Highlights (July – September 2026)
The company witnessed a particularly robust operational acceleration in the third quarter alone (July to September 2026):
Q3 Revenue jumped 31.60% to N174.33 million (vs. N132.48 million in Q3 2025).
Q3 Profit After Tax surged by 31.70% to N33.70 million, compared to N25.59 million achieved in the third quarter of 2025.
Revenue Segment Breakdown
A closer look at Morison Industries’ revenue streams reveals that LMP-Consumers remains the core revenue anchor, generating N411.40 million for the nine-month period (up from N264.45 million in 9M 2025). Meanwhile:
Pharmaceuticals contributed N26.27 million (more than double the N12.87 million recorded in the same period last year).
Others/Contracts contributed N10.75 million.
Analyst Takeaway for Investors
For equity investors tracking the Nigerian Exchange (NGX), Morison Industries PLC’s Q3 2026 statement underscores a compelling growth narrative. The acceleration in quarterly revenue growth (>31%) alongside a stabilized balance sheet—featuring total assets reaching N1.95 billion—signals improved operational execution.However, market participants should continue to monitor operating expense management, particularly distribution costs (which rose to N65.06 million from N37.60 million) and production input costs, to evaluate margin expansion potential heading into the final quarter of the financial year.
