Chemical and Allied Products Plc (CAP) has posted a pre-tax profit of N9.1 billion for the year ended 31 December 2025, representing a 50.5% increase from N6.06 billion in 2024. The fourth quarter alone contributed N3.6 billion, an 84.1% rise compared to the same period last year.
The growth was driven by strong paint product sales, higher other income, and a significant rise in finance income.
Total revenue for 2025 reached N44.8 billion, up 23.4% year-on-year, with paint sales accounting for nearly all revenue, while services added a modest N46.2 million.
The company’s cost of sales rose to N25.4 billion, and selling and marketing expenses increased to N4.5 billion, while administrative expenses grew to N7.3 billion.
Other income, primarily from scrap sales and management fees, reached N460.2 million, helping to push operating profit to N8.04 billion, up 47.6% from the prior year.
Finance income surged 68.3% to N1.08 billion, mainly from interest on short-term bank deposits, while finance costs fell sharply to N1.4 million, contributing to the robust pre-tax profit.
On the balance sheet, total assets rose 25.5% to N24.7 billion, supported by cash and cash equivalents of N11.7 billion, inventories of N6.6 billion, and property, plant, and equipment of N3.4 billion.
Total liabilities increased 11% to N10.03 billion, with trade and other payables forming the largest portion.
Shareholders’ equity strengthened to N14.6 billion, largely driven by retained earnings of N12.7 billion, up 46.1%.
The company’s strong performance reflects continued demand for paint products and sound financial management. On a year-to-date basis, CAP Plc’s stock has gained 15.2%, currently trading at N79.50.