PZ Cussons Nigeria Reports 66% Profit Drop in Q1 2026

PZ Cussons Nigeria Plc experienced a 66% decline in profit after tax, reporting N4.63bn for the first quarter ended 31 August 2026, down from N13.49bn a year earlier. This decline occurred despite a 10% increase in revenue, which rose to N64.84bn from N59.01bn in the same period of 2025.

The company's operating profit fell by 58% to N9.05bn from N21.59bn, while profit before tax also decreased by 58% to N9.09bn from N21.54bn. The significant drop in profit was primarily due to a sharp decline in foreign exchange gains, which fell to N177.47m from N3.57bn, and a decrease in other income to N332.43m from N12.18bn.

Although gross profit increased by 24% to N19.78bn, rising costs in selling, distribution, and administrative expenses contributed to the overall profit decline. The tax expense decreased by 45% to N4.46bn, and profit attributable to equity holders fell 69% to N4.02bn.

Basic and diluted earnings per share dropped to N1.20 from N3.40.