Okomu Oil Palm Company Plc has announced its robust financial results for the third quarter of 2025, with pretax profit surging by 49% to \mathbf{N17.04} billion, up from N11.4 billion in the corresponding period of 2024.
This strong performance pushed the nine-month pretax profit to N84.09 billion, marking a substantial 106.73% increase from the N40.6 billion reported last year.
The profit jump was underpinned by significantly higher turnover. Q3 revenue rose 52.44% to N44.1 billion, bringing the nine-month total to N173.9 billion, a 67.34% increase year-on-year.
Local sales were the primary driver, contributing N154.8 billion to the nine-month turnover, a 75.99% increase. Meanwhile, export sales grew by 19.64% to N19.08 billion.
While the cost of sales rose to N18.9 billion in Q3 2025 from N14.1 billion in the prior year, largely due to oil palm operations, gross profit still grew to N25.1 billion, compared to N14.7 billion in Q3 2024.
Net operating expenses increased by 82.4% to N7.4} billion, but this still left the operating profit at N17.7 billion, a 65.4% increase from the previous year.
Despite a decline in finance income and a fall in finance costs, the company’s bottom line remained firm. Pretax profit advanced by 49.36%, and profit after tax soared by 57.13% to N12.7 billion.
On the balance sheet, total non-current assets (including fixed assets, biological assets, and rights of use) reached N86.4 billion, a 12.32% increase.
Current assets also saw a rise, growing to N48.9 billion from N40 billion, with cash and bank balances making up the largest portion at N25.3 billion.
Current liabilities, mainly driven by an increase in trade payables and other obligations, rose to N39 billion from N26.1 billion. On the equity side, revenue reserves grew by 12.81% year-on-year to N60.8 billion.
The company also declared an interim dividend of N10.00 per 50 kobo ordinary share, subject to withholding tax. The dividend will be paid to shareholders on the Register of Members at the close of business on October 31, 2025.
Shares of Okomu Oil are currently priced at N1,020.00, reflecting an impressive 129.7% gain year-to-date. The stock’s Q3 performance saw a 29% advance, making it the second-best performing quarter of the year, just behind Q2’s 44.90% surge.