The Board of Directors of PZ Cussons, a leading manufacturer of personal healthcare products and consumer goods, has recorded N260.46 billion in revenue, representing 22% growth for the 2026 financial year, compared with N212.63 billion in the corresponding period in 2025.
A breakdown analysis of the unaudited financial results released revealed that the company achieved significant profitability for the year ended 31 May 2026, rising from N10.07 billion in the corresponding period in 2025 to N49.10 billion, representing a 388% increase.
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According to the results released by NGX, Cost of Sales as a percentage of revenue was 72%, 100bps lower than the prior year, driven by better mix and supply efficiencies. Marketing and Distribution expenses increased by 48.2% from N17.89 billion in 2025 to N26.51 billion in 2026. Administrative expenses also spiked, increasing from N14.70 billion in the 2025 financial year to N21.07 billion in the 2026 financial year.
According to the Chief Executive Officer of PZ Cussons, Oghale Elueni, the company’s strong performance was largely driven by the strength of the business, the equity of the brands, and the discipline of execution.
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Elueni explained that despite the complex and consistently challenging operating environment, the company pulled through to deliver growth in both revenue and profit. He disclosed that the 22% revenue growth recorded for the 2026 financial year was influenced by a healthy mix of volume and price initiatives.
“The balance sheet was further de-leveraged and strengthened through a cash-accretive P&L and efficient working capital management. The impact has been an improvement in the net asset position from ₦17.3bn negative at the beginning of the year to ₦70.6bn at year-end.
The business grew volumes in both the electrical and consumer business, leveraging investment in our brands and sharpening our go-to-market capabilities. The result has been market share gains for our major brands, increased household penetration and robust volume uplift, contributing to overall revenue growth,” he added.
He expressed profound appreciation to the shareholders for their unwavering support in navigating through the challenges in the last 12 months. He also noted that the board remains confident that, despite geopolitical uncertainties and their attendant economic shocks, the business is sufficiently resourced to deliver value to stakeholders.
“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,” he stated.
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