WorldStage– Morison Industries Plc has released its unaudited financial statements for the second quarter ended June 30, 2026, reporting a loss before taxation of ₦10.28 million for the six-month period, compared to a loss of ₦4.33 million recorded in the corresponding period of 2025.
Key Financial Highlights (Six-Month Period Ended June 30, 2026)
Revenue: Total revenue grew by 21.4% to ₦274.08 million, up from ₦225.73 million in H1 2025.
Cost of Sales: Direct production costs expanded by 25.4% to ₦177.79 million compared to ₦141.72 million in the prior-year period.
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Gross Profit: Gross profit rose 14.6% year-on-year to ₦96.30 million, up from ₦84.01 million.
Operating Expenses: Distribution expenses increased sharply by 100.8% to ₦42.92 million (H1 2025: ₦21.37 million), while total administrative/operating expenses rose to ₦100.39 million (H1 2025: ₦94.98 million).
Operating Loss: The company posted an operating loss of ₦3.52 million, down from an operating profit of ₦5.42 million in H1 2025.
Net Loss: Total comprehensive loss for the six months stood at ₦10.28 million.
Segment Performance
LMP-Consumers: Remained the primary revenue driver, contributing ₦250.86 million in revenue and ₦121.40 million in gross profit.
Pharmaceuticals: Generated ₦19.13 million in revenue and ₦9.06 million in gross profit.
Others/Contracts: Recorded ₦4.10 million in revenue with a gross profit of ₦1.53 million.
Balance Sheet & Shareholding
Total Assets: Stood at ₦1.91 billion as of June 30, 2026, compared to ₦1.76 billion at year-end 2025.
Net Assets: Increased to ₦1.22 billion from ₦842.09 million at the end of December 2025.
Free Float Status: Morison Industries declared a free float of 17.03% (213.91 million units), noting that it remains non-compliant with the Nigerian Exchange’s (NGX) Main Board free float requirement.
