Industrial & Medical Gases Nigeria Plc earned ₦1.42 billion pre-tax profit in 2025, according to its unaudited financial statements.
However, this fell from ₦2.44 billion in 2024 as rising operating expenses weighed on overall performance.
Industrial & Medical Gases Strong Sales Drive Revenue
In the fourth quarter, the company boosted pre-tax profit to ₦204.9 million from ₦160.2 million, reflecting improved quarterly performance.
Meanwhile, quarterly revenue dipped to ₦1.7 billion from ₦2.1 billion, although full-year revenue remained steady at ₦8.37 billion.
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Gas sales drove 96.5% of total turnover, while equipment rentals, engineering services, and delivery charges added the remainder.
Consequently, gross profit rose 4.7% to ₦4.07 billion, supported by slightly lower cost of sales and ₦115.9 million in other income.
Notably, other income came from generator hire and scrap sales.
However, rising operating costs—including administration, selling, distribution, and foreign exchange losses—eroded operating profit sharply to ₦1.38 billion from ₦2.44 billion the previous year.
Balance Sheet Strength Supports Investors
As a result, pre-tax profit totalled ₦1.42 billion, while profit after tax fell to ₦933.1 million.
Earnings per share declined from ₦3.25 to ₦1.28.
On the balance sheet, total assets stood at ₦14.68 billion, largely in property, plant, and equipment, while liabilities dropped sharply to ₦2.9 billion.
Consequently, shareholders’ equity rose to ₦11.7 billion, with reserves accounting for most of the total.
Following the results, shares climbed to ₦34.65 in February 2026, up 10% month-to-date, reflecting renewed investor confidence.
Overall, the company demonstrated resilience through strong gas sales, disciplined cost management, and a strengthened balance sheet, successfully navigating a challenging 2025.
