WorldStage– Consumer goods giant PZ Cussons Nigeria Plc has released its unaudited condensed interim financial statements for the first quarter ended August 31, 2026, reporting revenue growth alongside lower operating margins.
Key Financial Highlights
Revenue: N64.84 billion, up 10% from N59.01 billion recorded in the corresponding quarter of 2025.
Gross Profit: N19.78 billion, representing a 24.4% increase compared to N15.90 billion in Q1 2025/26.
Operating Profit: N9.05 billion, down 58% from N21.59 billion in Q1 2025/26, impacted by lower foreign exchange gains and reduced other income.
Profit Before Tax (PBT): N9.09 billion, down 58% from N21.54 billion reported in the previous period.
Profit After Tax (PAT): N4.63 billion, reflecting a 66% decline compared to N13.49 billion achieved in Q1 2025/26.
Earnings Per Share (EPS): Basic and diluted EPS stood at N1.20, down from N3.40 in the prior-year period.
Performance Overview & Income Statement Analysis
Revenue growth during the three-month period was driven by sustained demand across the group’s key product segments, which include personal care, home care, and electrical appliances. Cost of sales rose by 4.5% to N45.06 billion compared to N43.11 billion in Q1 2025/26, allowing gross profit margins to improve to 30.5% from 26.9%.
Operating expenses increased across primary distribution and overhead lines:
Selling and Distribution Expenses: Rose 16.7% to N6.60 billion (Q1 2025/26: N5.66 billion).
Administrative Expenses: Increased to N4.59 billion from N4.37 billion in the comparative quarter.
The contraction in overall operating profit was primarily influenced by lower net non-operating gains. Foreign exchange gains stood at N177.5 million, compared to N3.57 billion recorded in Q1 2025/26. Furthermore, other income decreased to N332.4 million from N12.18 billion in the prior period.
Taxation for the quarter totaled N4.46 billion, down 45% compared to N8.05 billion incurred in the prior period.
Balance Sheet & Financial Position
As of August 31, 2026, PZ Cussons Nigeria’s total assets expanded to N175.20 billion, up from N159.57 billion as of May 31, 2026. Total equity strengthened by 7% to reach N71.27 billion, supported by retained earnings of N8.41 billion.
Cash and Cash Equivalents: Stood at N38.40 billion as of August 31, 2026.
Inventories: Increased to N82.62 billion, up from N61.27 billion recorded at the end of the previous financial year.
Trade and Other Payables: Stood at N83.42 billion, compared to N75.32 billion as of May 31, 2026.
The board approved and authorized the interim financial statements for issue on September 29, 2026.
