Prime Business Africa
Morison Industries Plc generated N513.76 million in revenue between January and December of 2025, outstripping the N287.17 million recorded in 2024, indicating an increase of 78.90 percent.
Turnover growth exceeded that of production cost, which increased by 49.45 percent to N313.57 million during the period under review, compared to the N209.81 million expended in 2024.
This raised gross profit by 158.76 percent to N200.18 million between the first quarter (Q1) and the fourth quarter (Q4) of 2025, surpassing the N77.36 million earned in the previous year.
Join our WhatsApp ChannelHowever, distribution and selling expenses ate into Morison’s earnings, after rising by 49.15 percent year-on-year, while operating profit also increased by double-digit or 37.05 percent.
Morison had spent N51.78 million in distribution and selling expenses between Q1 and Q4 of last year, compared to the N34.72 million incurred in the corresponding period in 2024.
Also, operating expenses gulped N233.94 million during the period under review, surpassing the N170.69 million expended between January and December 2024.
This was offset by a 75.36 percent increase in other operating income, which rose to N119.88 million between the first quarter and fourth quarter of 2025, up from the N68.36 million generated in the year before.
As a result, Morison recovered from the N59.69 million operating loss recorded in 2025 with a N34.33 million operating profit in 2024.
However, the pharmaceutical company suffered a 57.25 percent year-on-year decline in finance income, which dropped from N2.33 million to N999,000, according to the firm’s financials.
Although the company was able to maintain its finance expenses at N19.6 million during the period under, the same figure reported between January and December of 2024.
This, however, was not enough to help the company reduce its net finance expenses, as it increased by 7.75 percent to N18.6 million between Q1 and Q4 of 2025, rising above the N17.26 million recorded the year before.
But the increase did not prevent Morison from achieving N215.73 million profit before tax (PBT) in 2025, recovering from the N76.95 million pretax loss recorded in 2024.
Morison incurred N3.42 million tax expense last year due to the pretax profit, up from the N1.78 million posted as income tax in 2024, reflecting a 91.50 percent increase.
This left the pharmaceutical company with N12.31 million profit after tax (PAT) in 2025, compared to the N78.74 million post-tax loss reported in 2024.
For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: [email protected] and [email protected]
Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
