PZ Cussons releases full year results, records N260.46bn revenue

PZ Cussons Nigeria has announced a robust financial performance for the 2026 fiscal year, achieving N260.46 billion in revenue. This figure represents a substantial 22% growth compared to the N212.63 billion recorded in the corresponding period of 2025. The company's profitability also experienced a dramatic increase, soaring by 388% from N10.07 billion in 2025 to N49.10 billion for the year ended May 31, 2026.

According to the unaudited financial results released via NGX, the Cost of Sales as a percentage of revenue decreased by 100 basis points to 72%, attributed to an improved product mix and supply chain efficiencies. However, Marketing and Distribution expenses rose by 48.2% to N26.51 billion, and Administrative expenses also increased from N14.70 billion to N21.07 billion during the same period.

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The balance sheet was further de-leveraged and strengthened through a cash-accretive P&L and efficient working capital management.

Chief Executive Officer of PZ Cussons, Oghale Elueni, credited the company's strong results to the inherent strength of its business, the equity of its brands, and disciplined execution. He highlighted that despite navigating a complex and challenging operating environment, the company successfully delivered growth in both revenue and profit. The 22% revenue growth was driven by a combination of volume increases and strategic pricing initiatives.

Elueni further noted that the company's balance sheet has been strengthened through efficient working capital management and a cash-accretive profit and loss statement. This has led to an improvement in the net asset position, moving from a negative N17.3 billion at the start of the year to a positive N70.6 billion by year-end. Both the electrical and consumer businesses saw volume growth, supported by investments in brands and enhanced go-to-market capabilities, resulting in market share gains and increased household penetration.

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We have a business that has strong brands, an adaptive operating framework and a culture of disciplined execution that supports the consistent delivery of value to stakeholders.