Ellah Lakes Plc H1 2026 Results: Revenue Growth, Debt-to-Equity Swap

Ellah Lakes Plc reported revenue of ₦533.86 million for the first half of 2026, according to its unaudited H1 2026 results published on 3 August 2026. The company completed the conversion of outstanding directors' loans into equity during the period, which eliminated ₦7.08 billion in directors' loans from its liability base. As a result, total liabilities fell by 93.6% to ₦504.66 million. Share capital rose to ₦3.20 billion from ₦1.93 billion, and share premium increased to ₦14.03 billion from ₦8.20 billion.

On the operational side, the company procured a new press for its Crude Palm Oil (CPO) Mill, with delivery expected in September 2026. Ellah Lakes also acquired the first set of expellers and presses for its Palm Kernel Oil (PKO) Mill, with installation targeted for completion by the end of Q3 2026, after which the company plans to begin producing Palm Kernel Oil and Palm Kernel Cake. The company separately disclosed that its pig farm has surpassed 1,000 pigs and that it has commenced sales of gilts. Ellah Lakes also confirmed it has initiated legal action against Olumide Akinsanya and Median Agro Limited over alleged encroachment on cultivated land in Iguelaba, Edo State.