May & Baker Nigeria plc delivered a strong performance in the first nine months of the year, posting a profit after tax of ₦3.34 billion, a 77% rise from ₦1.89 billion in the same period last year.
The company achieved this growth through rising demand for its pharmaceutical and consumer health products and by tightening cost control across operations.
May & Baker Nine-Month Performance
Furthermore, revenue grew 36% year-on-year to ₦29.53 billion, outpacing the 29% increase in cost of sales, which reached ₦19.41 billion.
As a result, gross profit jumped 50% to ₦10.11 billion, up from ₦6.76 billion in 2024.
The company strengthened its efficiency as operating profit rose 76% to ₦5.08 billion, supported by stricter control over administrative and distribution expenses.
Read Also: NCR Nigeria Returns To Profit On Forex Gains
Financial Gains And Solid Outlook
In addition, finance income climbed to ₦412.84 million, while finance costs increased to ₦541.65 million, pushing pre-tax profit to ₦4.92 billion, a 77% improvement year-on-year.
After paying ₦1.57 billion in taxes, May & Baker recorded earnings of ₦3.34 billion, with basic earnings per share advancing from 109.43 kobo to 193.73 kobo.
Meanwhile, in Q3 2025, the company sustained its momentum as profit soared 172% to ₦1.16 billion and revenue rose30% to ₦10.24 billion.
Finally, total assets expanded to ₦25.75 billion, while shareholders’ funds more than doubled to ₦21.55 billion, reflecting higher retained earnings and a firm financial base for future growth.
