PZ Cussons Nigeria Returns to Profitability, Proposes ₦2.50 Dividend as FY2026 Revenue Hits ₦260.5bn

Lagos, Nigeria — PZ Cussons Nigeria Plc has posted a sharp turnaround in its full-year financial performance, swinging from a negative equity position to a robust ₦66.6 billion in shareholders' funds, as the consumer goods manufacturer announced audited results for the year ended 31st May 2026 alongside a proposed final dividend for shareholders.

A Year of Strong Growth

According to the audited Group results released by the company to the Nigerian Exchange Group (NGX), revenue climbed 22% year-on-year to ₦260.5 billion, up from ₦212.6 billion in the corresponding period of 2025. The growth was underpinned by what the company described as improved route-to-market execution, continued investment in priority brands, and disciplined cost management.

The most striking gains, however, came further down the income statement. Recurrent operating profit more than doubled, rising 117% to ₦37.1 billion from ₦17.1 billion the previous year. Total operating profit surged 307% to ₦77.1 billion, a jump the company attributed largely to non-recurring income — principally gains from scrap sales and the disposal of non-core assets — layered on top of stronger underlying trading performance.

Other income alone rose more than twentyfold, from ₦1.8 billion to ₦39.9 billion, reflecting the scale of these one-off contributions.

Profit before tax rose 364% to ₦77.3 billion, while profit after tax came in at ₦45.2 billion, up 349% from ₦10.1 billion a year earlier. Taxation for the year rose to ₦32.1 billion from ₦6.6 billion, in line with the company's improved profitability.

Balance Sheet Turns Positive

Perhaps the most significant milestone in the results was the recovery of PZ Cussons Nigeria's balance sheet. Total equity turned positive at ₦66.6 billion as at 31 May 2026, a dramatic reversal from the negative equity position of ₦17.3 billion recorded in the prior year — a 484% improvement. Share capital remained unchanged at ₦1.99 billion.

The company said the turnaround in its financial position was supported by stronger profitability, disciplined capital allocation, effective exposure management, and the settlement of outstanding debt obligations — a reference to the currency and balance sheet pressures that have weighed on multinational consumer goods firms operating in Nigeria in recent years amid naira volatility.

"The performance reflects the commitment of our people, continued investment in our priority brands, product innovation, improved route-to-market execution and disciplined cost management," the company said in a statement accompanying the results.

The Board and management said they remain committed to "delivering sustainable, profitable growth, strengthening the balance sheet, and creating long-term value for shareholders and other stakeholders."

Dividend Declaration

On the back of the improved performance, the Board of Directors has proposed a final dividend of ₦2.50 per ordinary share of 50 kobo each, subject to the deduction of applicable withholding tax and shareholders' approval at the company's Annual General Meeting.

The AGM has been scheduled for 28th October 2026 at the Ballroom, Fraser Suites, Abuja, commencing at 11:00 a.m.

Key dates for shareholders to note include:

• Qualification Date: 9th October 2026 — shareholders on the register as at close of business on this date will qualify for the dividend.
• Register Closure: The Register of Members will be closed from Monday, 12th October to Friday, 16th October 2026 (both dates inclusive).
• Payment Date: Dividends will be paid electronically on 30th October 2026 to qualifying shareholders who have completed e-dividend registration with the registrar.

No bonus issue was proposed alongside the dividend.

Scrip Dividend Option

In addition to the cash dividend, the Directors are recommending, for shareholders' approval at the AGM, a scrip dividend option — a right of election allowing qualifying shareholders to receive new ordinary shares in the company in lieu of the cash dividend.

Shareholders wishing to elect for the share option must do so on or before 23rd October 2026. The number of shares due to electing shareholders will be determined using a reference share price calculated as the ten-day trading average of the company's share price on the floor of the Nigerian Exchange Limited, beginning 12th October 2026.

Shareholder Action Points

Shareholders who are yet to complete e-dividend registration have been advised to download the E-Dividend Mandate Activation Form from the registrar's website and submit it to ensure dividends are paid directly into their bank accounts. Shareholders holding unclaimed dividend warrants or share certificates that remain unpresented or unvalidated have similarly been urged to contact the registrar, First Registrars and Investor Services Limited.

Source: PZ Cussons Nigeria Plc corporate disclosures — Audited Results for the Year Ended 31st May 2026 and Dividend Declaration Notice.