PZ Cussons Nigeria Plc recorded a 10 per cent increase in revenue to N64.84 billion in the first quarter of its 2027 financial year, while operating profit stood at N9.05 billion, according to the company’s latest unaudited financial statements.
The consumer goods manufacturer’s revenue rose from N59.01 billion in the corresponding quarter of 2025, while gross profit increased by about 24 per cent to N19.78 billion from N15.90 billion. Cost of sales also increased, reaching N45.06 billion during the three months ended August 31, 2026.
Brandspur Brand News reports that the improvement in gross profit lifted the company’s gross margin to about 30.5 per cent, compared with 26.9 per cent a year earlier, indicating stronger profitability at the gross level despite the higher cost base.
Profit before tax, however, fell sharply to N9.09 billion from N21.54 billion in the previous corresponding period, while profit after tax declined to N4.63 billion from N13.49 billion. The company’s results show that the comparison was affected significantly by income recorded outside its underlying operations in the previous year.
PZ Cussons recorded N332.43 million in other income in the latest quarter, compared with N12.18 billion a year earlier. Foreign exchange gains also fell substantially, from N3.57 billion to N177.47 million. Together, the movements help explain why stronger revenue and gross profit did not translate into higher statutory profit after tax.
Company Secretary, Oghenekevwe Ogefere, attributed the underlying performance to a favourable combination of volume and pricing, as well as the strength of the company’s brands across their respective categories.
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The company said it remains focused on sustaining revenue growth, improving operational performance and strengthening the underlying business while delivering long term value for stakeholders.
The latest figures come after a stronger full year for PZ Cussons. For the year ended May 2026, the group reported revenue growth across its four lead markets, with Nigeria remaining its largest single market. PZ Cussons’ annual report showed Nigerian revenue of £133 million for FY26, up 21.7 per cent from £105.5 million a year earlier.
The group has identified its locally established brands, go to market capabilities and manufacturing scale as key competitive advantages. Its Nigerian portfolio includes brands such as Cussons Baby, Morning Fresh, Premier Cool, Carex and Imperial Leather.
The Nigerian business is entering the new financial year against a backdrop in which manufacturers continue to contend with changing consumer demand and cost pressures. The Q1 results suggest that PZ Cussons has been able to grow sales while improving its gross margin, although the sharp reduction in non recurring income has weighed heavily on reported bottom line earnings.
At group level, PZ Cussons said its like for like revenue increased by 4.5 per cent in the first quarter of FY27 and maintained its full year operating profit expectations. The group is scheduled to publish its half year FY27 results on February 10, 2027.
