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Profit - Page 3

UAC Nigeria Overcomes Soaring Expenses To Post N34bn Profit

September 7, 2026

UAC Nigeria generated N364.97 billion in revenue between January and June 2026, surpassing the N110.40 billion recorded in the first half (H1) of 2025, indicating a 230.57 percent growth. The same was

Preline Limited Splashes N17.55 billion On Eterna Plc’s Shares

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Eterna Grows Profit By 388% — Despite N203m FX Loss In H1 2026

September 4, 2026

Eterna Plc grew its revenue to N217.31 billion in the first half (H1) of 2026, exceeding the N157.65 billion generated in H1 2025, representing a 37.84 percent growth. In the oil company’s

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Caverton Offshore Records N8bn Loss As Revenue Drops 10%

September 2, 2026

Caverton Offshore Support Group recorded a 10.88 percent decline in its revenue in the first half (H1) of 2026, dropping to N14.68 billion, below the N16.47 billion generated in the corresponding period

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FX Loss, Decline In Investment Earnings… Why Mutual Benefits’ Profit Fell 16% In H1 2026

August 28, 2026

Mutual Benefits Assurance’s revenue grew by 3 percent to N42.25 billion in the first half (H1) of 2026, exceeding the N41.19 billion generated in H1 2025. The company’s insurance service expense outstripped

Production Cost Gulped More Than Half Of Fidson's Revenue In 2025

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Fidson Healthcare Records N74bn Revenue — Loses 56% Of Turnover To Cost Of Production

August 24, 2026

Fidson Healthcare’s revenue reached N74.48 billion in the first half (H1) of 2026, compared to the N62.64 billion generated by the pharmaceutical company in H1 2025, representing an 18.90 percent growth. The

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Why Geregu Power’s Profit Dropped From N20.27bn To N2.50bn In H1 2026

August 21, 2026

Geregu Power’s revenue dropped to N18.65 billion in the first half (H1) of 2026, failing to achieve the N87.63 billion generated in H1 2025, indicating a 78.71 percent decline. According to analysis

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Jaiz Bank Generates N29bn From Financing Contracts, N25bn From Investment In H1 2026

August 20, 2026

Over N57.94 billion in revenue was generated by Jaiz Bank in the first half (H1) of 2026, exceeding the N45.54 billion recorded in the corresponding period in 2025, representing a 27.23 percent

Seplat Plans $250M Gas Plant In Delta State, Focuses On Energy

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Revenue Surge, Falling Operational Costs… How Seplat Achieved Over 400% Profit Growth In H1 2026

August 19, 2026

Seplat Energy generated N2.50 trillion in revenue in the first half (H1) of 2026, rising by 15.48 percent above the N2.16 trillion turnover recorded in the corresponding period in 2025. In the

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Industry Review: Dangote Cement Losing Market Share To BUA Cement, HBM Nigeria

August 17, 2026

The cement industry recorded N3.92 trillion in revenue in the first half (H1) of 2026, an improvement of 23.74 percent when compared to the turnover of N3.16 trillion generated in H1 2025.

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AIICO’s Revenue Rises By 2%, Net FX Loss Increases To N1.79bn

August 14, 2026

The first half (H1) of 2026 ended with AIICO Insurance recording N104.71 billion in gross written premium, exceeding the N102.68 billion reported in H1 2025, indicating an increase of 2 percent. AIICO

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Int’l Breweries Losing Market Share To Rivals As Nigerians Spend N1.44trn On Drinks In Six Months

August 13, 2026

Nigerians spent over N1.44 trillion on alcohol and non-alcoholic drinks between January and June 2026, up 8.59 percent when compared to the N1.33 trillion revenue generated by brewers in the first six

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How Nascon Grew Profit By 27% After Slow Revenue Growth In H1 2026

August 11, 2026

In the first half (H1) of 2026, Nascon Allied Industries recorded a marginal increase in its revenue, which rose by 3.84 percent, from N78,15 billion in H1 2025 to N81,15 billion. Prime

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From N2bn Profit To N8bn Loss… How Caverton Became Unprofitable In H1 2026

August 10, 2026

Caverton Offshore Support Group Plc became unprofitable in the first half (H1) of 2026, following a significant decline in the company’s revenue and surge in expenses. According to analysis of the company’s

Oando Plc's Share Price Rise By %1,286% In One Year, Market Cap Crosses N1trn

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Oando’s Pretax Loss Declines To N32bn As Cost Pressure On Revenue Drops To 95%

August 7, 2026

Oando Plc reduced its post-tax loss in the first half (H1) of 2026 as the company’s revenue rose faster than the cost of sales and the firm cut other expenses. According to

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BUA Foods Cuts Costs To Grow Profit By 14% — After Revenue Dropped To N765bn

August 5, 2026

BUA Foods failed to replicate the N912.51 billion revenue generated in the first half of 2025, as the company earned N765.11 billion in turnover in the corresponding period in 2026. Analysis of

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Tax Burden, Rising Operating Costs Cap Infinity Trust’s H1 Profit Growth At 28%

August 4, 2026

Infinity Trust Mortgage Bank reported N4.03 billion in revenue in the first half (H1) of 2026, exceeding the N2.79 billion posted in H1 2025 by 44.40 percent. The company also grew interest

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MTN Fintech Revenue Plummets By 72% Over Airtime, Data Credit Service Suspension

July 31, 2026

MTN Nigeria overcame a twofold decline in its turnover from financial technology (fintech) services — driven by the temporary suspension of its airtime and data credit service — with double-digit growth in

Ecobank Fined N3.2m, PZ Cussons Slammed With N4.8m Amid Clampdown

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Decline In FX Gains, Lending, Fee Income… Why Ecobank’s Q2 Profit Dropped 14%

July 29, 2026

In the second quarter (Q2) of 2026, Ecobank’s earnings from lending and securities investment and its bottom line declined, with the former dropping by 6 percent and the latter decreasing by 14

First Bank Changes Names Of Its Subsidiaries In UK, Some Sub-Saharan African Countries

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How First HoldCo Grew Profit By 122% — Despite Lending Income Falling 14%

July 28, 2026

First HoldCo recorded N693.59 billion in interest income in the second quarter (Q2) of 2026, compared to the N812.12 billion generated in Q2 2025, representing a 14.59 percent decline. Interest income is

Zenith Bank’s Gross Earnings Rises By 125% In 2023

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Zenith Bank Gross Earnings Cross N1trn, Tax Burden Affects Profit Growth

July 16, 2026

Zenith Bank’s gross earnings rose to N1 trillion in the first three months of 2026, rising by 6.14 percent when compared to the N949.85 billion recorded between January and March of 2025.

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Why Mutual Benefits Assurance’s Profit Dropped To N4bn — Despite 6% Increase In Revenue

July 15, 2026

The revenue of Mutual Benefits Assurance increased to N20,39 billion in the first quarter (Q1) of 2026, surpassing the N19.32 billion reported in the same period in 2025. While revenue increased by

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Access Holdings’ Revenue From Lending, Investments Drops To N895bn

July 14, 2026

Access Holdings recorded N895.03 billion in interest income, covering lending and investments, in the first quarter (Q1) of 2026, failing to replicate the N980.67 billion earned in Q1 2025, representing an 8.73

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Tax Burden Pushes Veritas Kapital’s Profit Down To N1.53bn

July 13, 2026

In the first quarter (Q1) of 2026, Veritas Kapital Assurance suffered a decline in gross premium, after recording N5.80 billion, below the N6.86 billion recorded during the corresponding period in 2025. Veritas

Conoil Plc's Shareholders Approve N1.734 Billion Dividend Payout for 2022

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Conoil Tames Expenses To Prevent Revenue Decline From Affecting Profit

July 10, 2026

Conoil generated N71.45 billion in revenue between January and March 2026, compared to the N79.25 billion reported in the corresponding period in 2025. According to an analysis of the company’s unaudited financial

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Universal Insurance’s Revenue Grows By 48%, Profit Rises To N1.99bn

July 8, 2026

The Universal Insurance Plc generated N20.43 billion in revenue in 2025, exceeding the N13.76 billion reported in 2024, indicating an increase of 48.49 percent. Also, insurance service expense grew by 68.15 percent,

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PZ Cussons Grows Revenue To N260bn, Profit Rises By 364%

July 7, 2026

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‘

Fidelity Bank Kicks Off N127 Billion Public Offer, Rights Issue Today

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Cost Of Funds, Credit Loss… Why Fidelity Bank’s Profit Crashed By 12%

July 1, 2026

Fidelity Bank saw a 37.89 percent growth in its topline in the first quarter (Q1) of 2026, after securing N434.94 billion in revenue, compared to the N315.42 billion generated between January and

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Legend Internet Depending On Loan Amid Declining Revenue

June 29, 2026

The burden of debt on Legend Internet’s finances is rising as the company turns to bank loans and commercial papers to make funds available for its operations amid a decline in revenue.

FCMB Borrows N20.68bn To Protect Against Insolvency After Silicon Valley Bank Collapse

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FCMB Earnings Rose To N252bn In Q1 2026, Profit Up Over 100%

June 26, 2026

The gross earnings of First City Monument Bank (FCMB) Group Plc increased by 26.72 percent to N320,21 billion in the first quarter (Q1) of 2026, surpassing the N252.69 billion generated in the

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Conoil’s Profit Crashes By 75% Amid Declining Revenue, Loan Burden

June 25, 2026

Conoil Plc, an oil and gas company, suffered a significant decline in its profit following a decline in revenue and loan burden. The oil and gas company earned N301.72 billion in revenue

Guinness Nigeria Appoints New Board Members As Tolaram Completes Acquisition

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Guinness Nigeria Survives Profit Decline After Reducing Debt, Remeasuring foreign currency balance

Guinness Nigeria survived a decline in its bottom line thanks to a surge in other income, reduction in debt and remeasurement of foreign currency (FC) balances between January and March 2026. According to the company’s unaudited financial statements for the period ended

April 17, 2026

GTCO Shareholders Gain N93.87bn As Lender Reveals Plan To List On LSE

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GTCO Records Poor Revenue Growth, Profit Drops By 14%

Guaranty Trust Holding Company (GTCO) Plc grossed N2.15 trillion in earnings within the first quarter (Q1) and the fourth quarter (Q4) of 2025, rising by just 0.09 percent compared to the N2.14 trillion generated in the same period in 2024. The company

April 10, 2026

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Zenith Bank’s Profit Drops After Trading Loss Of N63bn

Poor revenue growth and trade loss led to a decline in Zenith Bank’s pre-tax profit in 2025, but a decrease in the financial institution’s tax expense gave the company’s bottom line a lifeline. Between January and December last year, Zenith Bank recorded

April 8, 2026

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AXA Mansard’s Profit Drops by 80% After Poor Investment Return

A double-digit growth in turnover did not prevent AXA Mansard Insurance from suffering a significant decline in net profit after a huge drop in the company’s investment returns in 2025. In the insurer’s consolidated and separate statement of comprehensive Income for the

March 30, 2026

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MeCure Defies Rising Expenses With 140% Jump In Profit

In 2025, MeCure Industries, a pharmaceutical company, spent N51.18 billion on production of its products, up by 63.83 percent when compared to the N31.24 billion reported as cost of sales in 2024. After increasing its production cost, MeCure saw a 68.80 percent

March 25, 2026

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Eterna Loses 95% Of Revenue To Production Costs

Eterna Plc saw cost of production gulp 95.88 percent of its revenue in 2025, compared to the 87.26 percent recorded in 2024, according to Prime Business Africa’s analysis. This was as a result of the company’s revenue declining by 3.53 percent year-on-year,

March 24, 2026

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Total Energies Suffers N12.5bn Loss After Revenue Drops By 26%

A 26 percent decline in Total Energies’ revenue made 2025 an unprofitable year for the oil company, according to the firm’s unaudited financial statements for last year. Total generated N767.63 billion in revenue between January and December 2025, which is below the

March 23, 2026

Nestle Invests Over ₦1.8bn in Dairy Development, Unveils Demonstration Farm

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Nestle Nigeria Returns To Profitability After Halting FX Loss

Nestle Nigeria returned to profitability in 2025 after halting foreign exchange (FX) losses, which plunged the company into a N221.58 billion net loss in 2024. The company commenced its journey to profitability with a 26 percent increase in revenue last year, which

March 20, 2026

Dangote Cement, Rand Merchant Bank Begin Commercial Paper Issuances On FMDQ Exchange

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Dangote Cement’s Market Share Drops As Lafarge, BUA Cement’s Revenue Grows Faster

In 2025, Dangote Cement’s market share by revenue dropped after Lafarge Africa and BUA Cement’s revenue grew faster than that of the industry leader. According to Prime Business Africa’s analysis, the three companies, which are the only cement producers listed on the

March 18, 2026

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Fortis Global Insurance Back To Era Of Unprofitability

After five consecutive years of being unprofitable, Fortis Global Insurance ended its losing streak in 2024; however, the company is back in the era of unprofitability. A breakdown of the company’s publicly available financials showed that Fortis Global, which has only achieved

March 17, 2026

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