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Profit - Page 4

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

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Regency Alliance Is Underperforming Under Bode Oseni

Regency Alliance Insurance is underperforming under Bode Oseni, the company’s managing director, whose appointment became effective on January 1, 2024. The company’s bottom-line growth rate has been on the decline since Oseni took over, according to Prime Business Africa’s analysis of Regency

March 16, 2026

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Financing Contracts’ Double-Digit Growth Helps Jaiz Bank Survive 353% Surge In Expenses

Jaiz Bank recorded over N102.07 billion gross earnings in 2025, up by 23.16 percent compared to the N82.87 billion generated in 2024, according to the company’s unaudited financial statements for 2025. In the financial statement, the company announced a N45,91 billion income

March 13, 2026

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Aliko Dangote’s Sugar Business Records N72bn Loss After Spending 85% Of Revenue On Production

In 2025, Dangote Sugar Refinery Plc, founded by Aliko Dangote, Africa’s richest man, spent 85.21 percent of its revenue on the cost of production, compared to the 95.32 percent expended in 2024, according to Prime Business Africa’s (PBA) analysis. The impact of

March 6, 2026

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Ecobank Suffers N10.97bn Investment Loss

In 2025, Ecobank Transnational Incorporated managed to shield its bottom line from investment loss and decline in other operating income, thanks to a strong topline. According to the company’s consolidated unaudited statement of comprehensive income for the year ended December 31, 2025,

March 4, 2026

Wema Bank In Search Of N25 billion, Target Private Investors

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Wema Bank Survives 60% Decline in Securities Investment As Topline Outpaces Expenses

Wema Bank recorded N653,28 billion gross earnings in 2025, according to the company’s consolidated and separate financial statements for the period ended December 31, 2025, surpassing the N433.43 billion generated in 2024. The gross earnings rose by 31 percent following a 62.73

March 2, 2026

MTN Shareholders, Karl Toriola Lose N581.57bn Within Three Days

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MTN Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 53% Of Turnover

The voice turnover to MTN Nigeria’s total revenue dropped from 38.77 percent in 2024 to 35.55 percent in 2025, according to Prime Business Africa’s analysis. Although the voice revenue increased last year to N1.85 trillion, surpassing the N1.30 trillion earned from the

February 27, 2026

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

Fidson Healthcare Plc generated N119.06 billion revenue in 2025, exceeding the N84.18 billion topline recorded in 2024, representing 41.42 percent. In the company’s unaudited report and financial statements for the period ended December 31, 2025, Fidson spent N69.91 billion on the cost

February 25, 2026

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Strong Topline, FX Gain Help Neimeth Return To Profitability

Neimeth International Pharmaceuticals Plc recovered from a 2024 pretax loss following a strong topline growth and return to foreign exchange (FX) gain, which shielded the drugmaker from rising expenses. The pharmaceutical company’s revenue grew by 64.28 percent to N7.36 billion in 2025,

February 24, 2026

Ellah Lakes Shareholders Stuck With Shares Institutional Investors Don't Want

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Ellah Lakes Failing Where Presco, Okomu Oil Succeeded

In 2025, Ellah Lakes failed where its market rivals, Presco Plc and Okomu Oil Palm Plc, succeeded, leading to a decline in confidence of Nigerian Exchange (NGX) investors in the company’s growth prospects. Ellah Lakes had recorded a 642.72 percent increase in

February 23, 2026

Cornerstone Insurance's Profit Declines As Firm Fails To Curtail Rising Expenses

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N3.57bn FX Loss, Trading Gain Decline… Why Cornerstone Insurance’s Profit Dropped By 67%

In 2025, a 36.92 percent increase in Cornerstone Insurance Plc’s revenue was not enough to stop the company’s net income from crashing by 67.85 percent. The revenue increased by double-digit from the N38.66 billion generated between January and December 2024 to N52.94

February 20, 2026

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