CAP Plc, the paint-making subsidiary of UAC of Nigeria Plc, posted a 50.9 per cent increase in post-tax profit for 2025 in comparison to the preceding year, with turnover rising by almost one quarter.
The company’s net profit hit the peak level ever during the year as revenue climbed to N44.9 billion from N36.4 billion and costs rose marginally, easing pressures on bottom line, figures from its corporate results released on Friday showed.
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On that score, it has announced a dividend of N4 per share (translating to a N3.3 billion payout), up from the N2.40 paid to shareholders for 2024.
“These achievements are underpinned by the disciplined execution of our strategy and the continued trust and commitment of our customers, trade partners and employees,” Bolarin Okunowo, CAP Plc’s managing director, said in a statement.
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“As we look ahead to 2026, we will build on this positive momentum by deepening our investments in our people, brands and operations, ensuring we continue to meet and exceed the expectations of our customers and stakeholders,” he stated further.
Selling and marketing expenses expanded by 28.4 per cent to N4.5 billion, driven by a jump in the spending on vehicle repairs and maintenance.
Likewise, administrative expenses went up by 17.3 per cent to N7.2 billion, largely on the back of a surge in staff costs (excluding directors’ emoluments).
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The company made a provision of N424 million against its N6.7 billion in inventories to write down obsolete and slow-moving items in its books.
Inventories, which independent auditor KPMG pointed out as constituting 27 per cent of the company’s total assets, were valued at N6.6 billion a year earlier.
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The manufacturer increased finance income from N644.8 million to N1.1 billion, driven by interest earned on short-term bank deposits. It recorded a moderate improvement in other income, which increased to N472.3 million from N436.8 million.
Profit before tax quickened by more than half to N9.1 billion, while profit for the year leapt to N5.7 billion from N3.8 billion.
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