Prime Business Africa
PZ Cussons recorded N260.19 billion in revenue between June 2025 and May 2026, surpassing the N212.63 billion generated in the corresponding period the year before.
According to an analysis of PZ Cussons‘ unaudited financial results for the 12 months ended May 31, 2026, revenue increased by 22 percent, compared to the 21 percent jump in cost of production.
The company operates a calendar period that starts in June and ends in May, unlike the traditional financial year, which starts in January and ends in December.
Join our WhatsApp ChannelPZ Cussons incurred N187.19 billion in cost of sales last year, compared to the N154.92 billion expended in 2025, while gross profit jumped by 27 percent to N73.26 billion during the period under review, up from the N57.7 billion reached in 2024.
In the financial statement, the producer also recorded an N278.86 million impairment of trade receivables, exceeding the N203.55 million posted in the previous year, representing a 37 percent decline.
Further analysis showed that selling and distribution expenses soared by 48 percent year-on-year, from N17.89 billion to N26.51 billion, while administrative expenses grew by 43 percent to N21.07 billion, from N14.7 billion.
The company’s impressive run was supported by an N11.83 billion foreign exchange (FX) gain, as PZ Cussons recovered from the N7.78 billion FX loss suffered between June 2024 and May 2025.
Also, other income grew by 2,113 percent to N39.82 billion during the period ended May 2026, surpassing the N1.79 billion posted in the same period ended May 2025, while operating profit increased by 307 percent year-on-year, from N18.92 billion to N77.05 billion.
However, interest income decreased by 11 percent to N1.37 billion during the reviewed period, to N1.22 billion between June 2025 and May 2026, but the company cushioned the impact on the bottom line with a 73 percent year-on-year decline in interest cost, which dropped from N3.63 billion to N965.43 million.
This enabled PZ Cussons to rebound from a N2.26 billion net interest expense recorded during the period ended May 2025, with a N259 million net interest expense for the period ended May 2026.
The recovery contributed to the profit before tax (PBT) rising threefold or 364 percent to N77.31 billion within 12 months, compared to the N16.66 billion recorded during the period ended May last year.
PZ Cussons reported tax expense gulped N28.21 billion for the period between June 2025 and May 2026, up by 328 percent when compared to the N6.59 billion paid in the corresponding period the year before.
As a result, profit after tax (PAT) settled at N49.09 billion, surpassing the N10.06 billion recorded the year before, reflecting a 388 percent growth.
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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.
