Author: Gilbert Ayoola

Nascon Grows Profit by 26% to N19.6 Billion in H1-2026 Nascon Allied Industries Plc delivered a solid financial performance in the first half of 2026, demonstrating strong operational efficiency by converting modest revenue growth into significantly higher profitability. Revenue increased by 3.8% year-on-year to N81.2 billion. However, gross profit outpaced sales growth, rising 9.2% to N40.8 billion and lifting the gross profit margin above 50% from approximately 48% in the corresponding period of 2025. The improved margin underscores the company’s ability to retain a larger share of revenue through better cost management and operating efficiency. The stronger margin performance flowed…

Academy Press Earnings Underperform, Revenue Tumbles by 51% Academy Press Plc opened the 2026 financial year with a significantly weaker first-quarter performance, as declining demand and elevated operating costs weighed heavily on earnings. The result fell below the company’s historical earnings profile and reflects the challenging operating environment facing the printing and publishing industry. Revenue declined by 50.7% year-on-year to N771.5 million, compared with N1.57 billion in the corresponding period of 2025. The sharp contraction in turnover translated directly into profitability, with profit after tax plunging 93.0% to N28.6 million from N409.4 million a year earlier, while earnings per share…

Conoil Profit Rises Six Folds, Margin Expands Conoil Plc posted an impressive financial performance for the first half (H1) ended June 30, 2026, with strong revenue growth, significant margin expansion, and a sharp increase in profitability despite higher financing costs and increased borrowings. The company’s results underscore improved operational efficiency and disciplined cost management, positioning it for sustained growth. Revenue for the period rose 25.2% to N179.9 billion, compared with N143.6 billion in the corresponding period of 2025. Cost of sales increased in line with business expansion, rising to N161.2 billion from N132.3 billion a year earlier. Nevertheless, stronger pricing…

AVA Capital’s NGX Debut Opens New Investment Window, Market Eyes Thin Free Float AVA Capital Limited will officially join the Nigerian Exchange (NGX) Main Board through a Listing by Introduction, marking another addition to Nigeria’s growing financial services sector. Unlike an Initial Public Offering (IPO), this transaction will not raise fresh capital. Instead, AVA Capital is listing 5 billion existing ordinary shares of 50 Kobo each at a reference price of N7.50 per share, implying an opening market capitalisation of approximately N37.5 billion before the stock records its first trade. The listing simply provides an avenue for the company’s existing…

May & Baker Margin Expansion, Balance Sheet Strength Drive H1 Earnings Despite Flat Revenue May & Baker Nigeria Plc delivered a fundamentally strong first-half 2026 performance, demonstrating that disciplined cost management and balance sheet optimisation can generate significant shareholder value even in a subdued revenue environment. The company’s earnings profile reflects improving operational efficiency rather than top-line expansion, a quality likely to resonate with investors seeking resilient businesses in Nigeria’s healthcare sector. Revenue remained largely unchanged at N19.28 billion, posting a marginal 0.02% year-on-year increase. While the lack of meaningful sales growth may temper expectations for aggressive expansion, the quality…

Zichis Agro-Allied Delivers Breakout H1 2026 Performance as Expansion Strategy Gains Momentum Zichis Agro-Allied Industries Plc delivered one of the strongest first-half performances on the Nigerian Exchange in 2026, with revenue, earnings, and profitability expanding several-fold as the company’s investment in integrated agro-processing translated into exceptional financial results. For the six months ended June 30, 2026, revenue surged 285% year-on-year to N910.5 million, from approximately N236.5 million in the corresponding period of 2025. The remarkable growth was primarily driven by palm oil operations, where sales expanded by more than ten times, complemented by solid growth in the fish farming business,…

MeCure H1 2026 Earnings Reinforce Long-Term Growth Strategy MeCure Industries Plc delivered a resilient first-half (H1) 2026 financial performance, underscoring the strength of its pharmaceutical business and the company’s commitment to long-term capacity expansion. The results reflect sustained demand across its core product portfolio, improving operating efficiency and strategic investments aimed at strengthening its position in Nigeria’s healthcare sector. For the six months ended June 30, 2026, revenue rose by 20.3% to N44.85 billion, supported by robust sales across prescription medicines and over-the-counter (OTC) products. The acute medicines and OTC segment remained the company’s dominant revenue driver, accounting for 79.3%…

Consolidated Hallmark Holdings Plc has maintained a strong bullish profile in 2026, reflecting sustained investor confidence and resilient market demand.

United Capital Delivers Robust H1 2026 Earnings, Declares 30 Kobo Interim Dividend United Capital Plc has delivered an impressive set of half-year (H1) 2026 results, underpinned by strong revenue expansion, accelerating profitability, a significantly stronger balance sheet and an attractive interim dividend, reinforcing its position as one of Nigeria’s leading non-bank financial services groups. The investment banking and asset management group reported gross earnings of N37.5 billion, representing a 57.8% year-on-year increase, driven by broad-based growth across its major revenue lines. The standout performer was net trading income, which surged from N419 million in the corresponding period of 2025 to…

First HoldCo Delivers Blockbuster Performance in H1, Profit Soars 82% First HoldCo Plc delivered an impressive first half of 2026 financial performance, extending the momentum established in the first quarter and reinforcing confidence that the group is entering a stronger earnings cycle. The headline figures point to a business benefiting from improved operational efficiency, disciplined cost management, lower credit impairment charges, and expanding non-interest income. For long-term investors, the results are encouraging. However, beneath the strong headline numbers remain questions about earnings quality, as a meaningful portion of profit growth continues to benefit from recoveries, fair value adjustments, and foreign…