Ikeja Hotel Grows Profit by 285%, Announces Interim Dividend
In the nine months of financial year 2025, Ikeja Hotel Plc delivered a robust earnings performance despite steep rivalry in the highly competitive hospitality business in Nigeria.
The hotelier grew its net profit by more than 285% to N4.851 billion, details from its nine months financials submitted on the Nigerian Exchange (NGX) revealed.
The hospitality company doubled down on its earnings amidst growing rivalry in the sector, supported by increasing occupancy rate.
Its revenue for the period surged by 47% year on year to N18.516 billion from N12.598 billion in the comparable period in 2024, details from its unaudited financial statement revealed.
Ikeja Hotel’s cost of sales surged by 19.28% year on year to N9.5 billion amidst a double-digit inflation rate in Nigeria, up from N7.964 billion in the comparable period in 2024.
Its gross profit expanded sharply, reflecting a substantial gap between revenue and cost growth in the period. Additional details from the unaudited financials revealed that Ikeja Hotel’s gross profit settled at N9.016 billion, up by 95% year on year from N4.634 billion in the equivalent period in 2024.
Other income declined to about N94 million from approximately N188 million posted in the equivalent period in 2024. Operating expenses surged as sales and distribution overhead expanded to N630.709 million from N483.531 million in the comparable period in 2024.
The administrative expenses component surged to N1.581 billion, up by 39% year on year from N1.135 billion within 12 months. Ikeja Hotel reported that its pre-tax profit increased to N7.33 billion from N3.086 billion. Aradel Hits 52-Week High, Gains 25% as Investors React to Acquisition
A spike in tax expenses reduces the strength of its bottom line. Net income printed at N4,851 billion, up from N2.002 billion in the comparable period in 2024. As earnings ballooned, Ikeja Hotel board of directors declared a dividend.
“An interim dividend of 3 kobo for every ordinary share of 50 kobo each, subject to appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, November 7, 2025.
“On Friday, November 28, 2025, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Friday, November 7, 2025, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts”, the hospitality company disclosed.
