Vitafoam Nigeria Plc has reported a profit after tax of ₦9.37 billion for the nine months ended June 30, 2025, a recovery from a loss of ₦2.88 billion in the same period of 2024, according to its unaudited financial statement obtained by Investors King.
The group’s revenue rose 40.4% year-on-year to ₦84.87 billion from ₦60.49 billion in 2024, driven by increased demand across product categories.
Gross profit advanced 35.7% to ₦28.84 billion compared with ₦21.24 billion in the prior year.
Operating Performance
Operating profit surged to ₦18.48 billion, a sharp turnaround from ₦806.97 million reported in the same period of 2024.
The performance was supported by other gains of ₦924.59 million, up from ₦445.22 million a year earlier as well as improved cost control.
Administrative expenses dropped to ₦8.19 billion in 9M 2025 from ₦18.66 billion in 2024 on the back of effective management’s cost-optimization measures.
Distribution expenses increased moderately to ₦3.10 billion from ₦2.22 billion.
Finance Costs and Bottom-Line Growth
Finance income stood at ₦210.93 million from ₦996.72 million recorded in the prior year while finance costs increased to ₦4.87 billion from ₦3.89 billion.
Despite the higher financing burden, profit before tax rose sharply to ₦13.82 billion, compared to a loss of ₦2.08 billion in 2024.
After a tax expense of ₦4.45 billion, the group reported a net profit of ₦9.37 billion, reversing its prior-year loss.
Shareholder Value
Profit attributable to equity holders of the parent stood at ₦8.72 billion, compared with a loss of ₦3.29 billion in 2024. Non-controlling interests accounted for ₦654.02 million, up from ₦407.89 million in the prior period.
Basic and diluted earnings per share rose to 697 kobo, a sharp rebound from a negative 263 kobo in 2024.
Comprehensive Income
The group posted a total comprehensive income of ₦9.13 billion, compared to a negative ₦2.24 billion in 2024. The result was impacted by a foreign exchange translation loss of ₦246.75 million, compared with a gain of ₦643.89 million a year earlier.
Company Performance
For the standalone company, revenue grew 37.5% to ₦74.48 billion from ₦54.15 billion in 2024 while gross profit increased to ₦23.78 billion from ₦17.76 billion. Profit after tax rose to ₦7.73 billion, reversing a ₦3.83 billion loss in the previous year.
Key Highlights (Group: 9M 2025 vs 9M 2024)
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Revenue: ₦84.87 billion vs ₦60.49 billion (+40%)
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Gross Profit: ₦28.84 billion vs ₦21.24 billion (+36%)
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Operating Profit: ₦18.48 billion vs ₦0.81 billion (turnaround)
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Profit Before Tax: ₦13.82 billion vs -₦2.08 billion (recovery)
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Profit After Tax: ₦9.37 billion vs -₦2.88 billion (recovery)
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Earnings Per Share: 697 kobo vs -263 kobo
Outlook
Vitafoam Nigeria Plc’s recovery underscores management’s effective cost management and market expansion strategy. With rising consumer demand and a significant improvement in profitability, the company is positioned to sustain growth momentum in the final quarter of 2025, despite inflationary pressures and financing costs.
