Prime Business Africa
Between January and December 2025, Chemical and Allied Products Plc generated N44.85 billion in revenue, compared to the N36.36 billion turnover recorded in 2024.
While the company’s revenue grew by 23 percent, CAP saw a 17.70 percent increase in cost of production, which jumped to N25.42 billion last year, surpassing the N21.59 billion generated in 2024.
Join our WhatsApp ChannelAccording to the paint producers’ unaudited financial statements for the year ended December 31, 2025, CAP recorded a 31.61 percent year-on-year growth in gross profit, as it rose from N14.76 billion to N19.43 billion.
The manufacturer incurred N4.52 billion as selling and marketing expenses in 2025, compared to the N3.54 billion expended in 2024, representing an increase of 28.11 percent.
Also, administrative expenses gulped N7.32 billion in 2025, rising by 17.76 percent when compared to the N6.21 billion incurred the year before.
In addition, other income grew by 5.36 percent during the period under review, rising to N460.25 million, exceeding the N436.82 million other income reported in 2024.
This contributed to CAP’s operating profit to rise to N8.04 billion last year, above the N5.44 billion achieved between January and December 2024, indicating a 48 percent increase.
The paint producer strengthened its earnings with a 68 percent year-on-year growth in finance income, which jumped from N644.76 million to N1.08 billion, and a 95.18 percent decline in finance cost, as it dropped from N30.13 million to N1.45 million.
Consequently, CAP reported net finance income of N1.08 billion in 2025, exceeding the N614.62 million reported the year before, reflecting a 76.34 percent growth.
This enabled the manufacturer to achieve N9.12 billion profit before tax (PBT) between the first quarter and the fourth quarter (Q4) of last year, rising by 51 percent when compared to the N6.06 billion pretax profit of 2024.
CAP deducted N3.01 billion from the pretax profit as income tax in 2025, compared to the N2.25 billion tax expense reported in 2024, indicating a 33 percent increase in taxation.
Following the tax deduction, the company reported N6.11 billion as profit after tax (PAT) in 2025, up by 61 percent as it surpassed the N3.80 billion recorded the previous year.
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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.
