The Board of Directors of PZ Cussons, a leading manufacturer of personal healthcare products and consumer goods, has announced a revenue of N260.46 billion for the 2026 financial year, representing a 22% growth compared with N212.63 billion in the corresponding period in 2025. This was disclosed in the company's unaudited financial results for the year ended 31 May 2026, released on the Nigerian Exchange (NGX).
Profitability Soars by 388%
Profit after tax surged from N10.07 billion in 2025 to N49.10 billion in 2026, marking a 388% increase. The company attributed this significant improvement to better cost management and operational efficiencies.
According to the results, the Cost of Sales as a percentage of revenue improved to 72%, 100 basis points lower than the prior year, driven by a better product mix and supply chain efficiencies. Marketing and Distribution expenses increased by 48.2% from N17.89 billion in 2025 to N26.51 billion in 2026, while Administrative expenses rose from N14.70 billion to N21.07 billion over the same period.
CEO Comments on Performance
Chief Executive Officer Oghale Elueni attributed the strong performance to the strength of the business, the equity of its brands, and the discipline of execution. He noted that despite the complex and consistently challenging operating environment, the company delivered growth in both revenue and profit.
Elueni disclosed that the 22% revenue growth was influenced by a healthy mix of volume and price initiatives. “The balance sheet was further de-leveraged and strengthened through a cash-accretive P&L and efficient working capital management. The impact has been an improvement in the net asset position from N17.3bn negative at the beginning of the year to N70.6bn at year-end. The business grew volumes in both the electrical and consumer business, leveraging investment in our brands and sharpening our go-to-market capabilities. The result has been market share gains for our major brands, increased household penetration and robust volume uplift, contributing to overall revenue growth,” he added.
Outlook and Shareholder Appreciation
Elueni expressed profound appreciation to shareholders for their unwavering support in navigating the challenges of the past 12 months. He noted that the board remains confident that, despite geopolitical uncertainties and their attendant economic shocks, the business is sufficiently resourced to deliver value to stakeholders.
“We have a business that has strong brands, an adaptive operating framework and a culture of disciplined execution that supports the consistent delivery of value to stakeholders,” he stated.
