Story behind the figures
...as rising finance costs, other income reshape 2025 earnings The Nigerian National Petroleum Company (NNPC) Ltd recently its financial performance for the year ended December 31, 2025, recording a 32.7 per cent increase in profit after tax to ₦7.18 trillion, despite a sharp contraction in revenue. The state-owned energy giant saw its revenue fall by ...
Story behind the figures
Against a backdrop of persistent inflationary pressures and tough macroeconomic conditions in Nigeria, BUA Cement Plc delivered a remarkable financial performance for the first half of 2026. The cement manufacturing giant posted an 80% surge in post-tax profit. Market expansion In the six months ending June 30, 2026, BUA Cement’s revenue accelerated sharply to ₦728.93 ...
Story behind the figures
Behind every balance sheet lies a deeper corporate narrative. In a fiscal year characterized by severe macroeconomic volatility, inflationary pressures, and weakened consumer purchasing power across Nigeria, Chemical and Allied Products (CAP) Plc has proved its mettle. The company’s full-year audited financial results for the period ended December 31, 2025, show a resilient performance that ...
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Story behind the figures
The fiscal year ended March 31, 2026, represented a transformative period for Airtel Africa, characterized by record-breaking customer acquisition and a significant pivot toward a digital-first operational model. Despite navigating a complex landscape of geopolitical tensions and currency volatility, the Group leveraged structural growth drivers across its 14-market footprint to deliver its strongest operating and ...
Story behind the figures
The 2025 financial results for Access Holdings Plc have established a new benchmark characterized by a historic leap in profitability crossing the N1trn profit-before-tax threshold for the first time. According to the results released last week, the Group successfully navigated a complex macroeconomic landscape to deliver a record performance that signals a transition from aggressive ...
Story behind the figures
The full-year 2025 audited results for Zenith Bank PLC present a sophisticated narrative of institutional de-risking paired with aggressive shareholder compensation. While a first glance might focus on the slight dip in Profit Before Tax, the deeper story behind the figures reveals a bank purposefully strengthening its foundation to maintain its market-leading position in a ...
Business
Beta Glass Plc, a leading glass container manufacturer in West and Central Africa, has demonstrated remarkable financial resilience by reporting a 144% year-on-year increase in Profit After Tax (PAT) for the 2025 financial year. The company’s audited results for the period ended December 31, 2025, show that net profit climbed to ₦33.25 billion, up from ...
Business
Introduction The fast-moving consumer goods (FMCG) sector in Nigeria has navigated unprecedented headwinds over the past few years, characterized by severe foreign exchange volatility, aggressive inflationary pressures, and severely weakened consumer purchasing power. For a legacy manufacturer like Cadbury Nigeria Plc, the 2023 and 2024 financial years were particularly bruising. Caught in the crosshairs of ...
Story behind the figures
In the Nigeria’s oil and gas sector, few names command as much respect as Chief Leemon Agbonjague Ikpea. As the Founder and Group Managing Director of Lee Engineering and Construction Company Limited, Chief Ikpea has transitioned from humble beginnings to becoming a cornerstone of Nigeria’s industrial self-reliance. His trajectory is a testament to the Achiever ...
Story behind the figures
The 2025 financial year marked a definitive coming-of-age for FCMB Group Plc, as it bridged the gap between a mid-tier contender and a trillion-naira revenue powerhouse. The numbers tell a story of a bank that successfully navigated a high-interest-rate environment by aggressively repricing its core business while insulating against the volatility that plagued non-interest income ...
Story behind the figures
The 2025 financial year marked a definitive coming-of-age for FCMB Group Plc, as it bridged the gap between a mid-tier contender and a trillion-naira revenue powerhouse. The numbers tell a story of a bank that successfully navigated a high-interest-rate environment by aggressively repricing its core business while insulating against the volatility that plagued non-interest income ...
Story behind the figures
The 2025 financial year for First Holdco Plc (the parent company of First Bank of Nigeria) will be remembered not for a failure of the business, but for a deliberate, high-stakes demolition of its own balance sheet. While the headline figures initially shocked the market showing a staggering 92% plunge in profit after tax, the ...
Story behind the figures
BUA Cement Plc has delivered a stellar performance for the nine months ended September 2025, with profit after tax surging nearly fivefold to N289.86 billion. The results underscore the success of the company’s expansion strategy in Sokoto and Edo States. Revenue growth The company recorded a 47.19 per cent year-on-year increase in revenue, rising to ...
Story behind the figures
Geregu Power Plc’s nine-month (9M) 2025 performance reflects a power generation company balancing resilient revenue growth with mounting cost pressures and working-capital challenges within Nigeria’s electricity market. While higher capacity utilization and improved grid dispatch lifted topline earnings and sustained profitability, rising gas costs, growing receivables, and tighter liquidity continue to temper the outlook. The ...
Story behind the figures
Oando Plc’s performance for the first nine months of 2025 depicts a company at a strategic crossroads, shaped heavily by sweeping changes in the global energy industry and the evolving landscape of Nigeria’s oil and gas sector. While the energy group has delivered a sharp rebound in profitability driven by upstream expansion and accounting reversals, ...
Story behind the figures
Access Holdings Plc has demonstrated resilience and strategic agility in its third-quarter (Q3) 2025 performance, leveraging an aggressive pan-African expansion strategy to deliver robust top-line growth despite a challenging economic terrain. In results released on October 30, 2025, the Group presented a positive but nuanced picture. While operations across Africa provided significant momentum driving substantial ...
Story behind the figures
The Nigerian National Petroleum Company Limited (NNPC Ltd) has delivered a landmark financial performance for the 2024 fiscal year, posting record-breaking revenue and profit figures. The results underscore the impact of higher crude output, sector-wide reforms under the Petroleum Industry Act (PIA), and the strategic emergence of domestic refining capacity, most notably the Dangote Petroleum ...
Story behind the figures
First HoldCo Plc delivered a mixed financial performance in the first half of 2025, creating a narrative of two halves, a robust strengthening of fundamentals and asset expansion, countered by significant operating pressures and a sharp decline in bottom-line earnings. As the institution accelerates efforts to exit regulatory forbearance, its H1 2025 results highlight substantial ...
Story behind the figures
Fidelity Bank Plc’s strategic efforts to expand its business footprint paid off handsomely in the first half of 2025, resulting in solid expansion across core business activities and a strengthened capital base. The interim financial statements for the half year ended June 30, 2025, reveal impressive growth in interest income, customer deposits, and lending activities, ...
Story behind the figures
United Bank for Africa (UBA) Plc has demonstrated significant financial strength, reporting a profit after tax (PAT) of N537.53 billion for the third quarter ended September 30, 2025. This figure marks a slight but steady 2.3 per cent increase over the N525.31 billion recorded in the same period of 2024. Although profit before tax (PBT) ...
Story behind the figures
Ecobank Transnational Incorporated (ETI) has reported a strong financial performance for the third quarter ended September 30, 2025, with pre-tax profit rising by a remarkable 47 per cent year-on-year to ₦394.6 billion, up from ₦268.5 billion recorded in Q3 2024. The pan-African banking group also posted a 48 per cent rise in profit after tax ...
Story behind the figures
Transnational Corporation Plc (Transcorp) delivered a robust financial performance in the first half of 2025 (H1 2025), showcasing significant resilience despite ongoing domestic and global economic turbulence. The conglomerate’s strategy of an integrated management structure and cost optimization helped it achieve remarkable top-line growth, primarily fueled by its Power and Hospitality segments. Group financial highlights ...
Story behind the figures
Transnational Corporation Plc (Transcorp) delivered a robust financial performance in the first half of 2025 (H1 2025), showcasing significant resilience despite ongoing domestic and global economic turbulence. The conglomerate’s strategy of an integrated management structure and cost optimization helped it achieve remarkable top-line growth, primarily fueled by its Power and Hospitality segments. Group financial highlightsTranscorp’s ...
Story behind the figures
United Bank for Africa (UBA) Plc has reported a pre-tax profit of N388.4 billion for the half year ended June 30, 2025, representing a 3.28 per cent decline from N401.5 billion recorded in the same period of 2024. Despite the dip, the results were considered resilient, reflecting strong top-line growth in a challenging operating environment ...
Story behind the figures
Ecobank Transnational Incorporated (ETI) demonstrated remarkable resilience in the first half of 2025, delivering a strong performance despite a challenging macroeconomic environment. The bank's diversified business strategy and a focus on operational efficiency drove significant growth in profitability and revenue across its 35-country footprint. Financial highlights and performance drivers ETI's H1 2025 results were marked ...
Story behind the figures
Dangote Cement Plc has reported a strong profit surge in the first half of 2025, showcasing operational discipline and cost efficiency, even as concerns mount over liquidity pressures and investor confidence. Revenue and Profitability The company’s revenue climbed by 17.70 per cent year-on-year to N2.07 trillion, a performance largely driven by strategic pricing in the ...
Story behind the figures
PZ Cussons Nigeria Plc has recorded a striking recovery in its full-year results for the period ended 31 May 2025, marking a decisive return to profitability after one of its most difficult financial years. The multinational consumer goods company, best known for its household and personal care products, posted figures that signal renewed resilience, improved ...
Story behind the figures
Introduction A thorough analysis of Nestle’s current financial report shows that the 2023 financial year was not a good one for the company. While it made good sales (as evidenced by the higher turnover figure), growing finance costs completely overshadowed the company’ profit. To this end, it was unable to turn a profit, recording a ...
Story behind the figures
Introduction FCMB Plc mostly recorded an improvement over the preceding year’s results in terms of turnover and profit, and this improvement carried over to its profit. As a result, the bank recorded better profitability ratios than that of the prior year. Profit margin, return on assets, return on equity, and other important profitability parameters improved. ...
Story behind the figures
Introduction Our analysis of NASCON Allied Industries Plc’s current financial report shows that it had a good year in 2023. It was able to step up the level of its business activities as shown by a growing turnover base. It was also able to increase profit during the course of the year. Profitability ratios for ...