Okomu Oil Palm Company Plc has announced strong financial results for the nine months ended September 30, 2025.
According to the company’s unaudited interim financial statements, profit after tax rose sharply to ₦60.33 billion, representing a 113% increase from ₦28.34 billion reported in the same period of 2024.
The impressive result underscores the company’s operational strength and sustained profitability despite a challenging business environment.
Turnover and Gross Profit Surge
Turnover grew substantially to ₦173.95 billion in the first nine months of 2025, compared to ₦103.95 billion in the corresponding period of 2024 — a 67% increase.
Cost of sales increased moderately to ₦61.87 billion from ₦44.64 billion, while gross profit jumped to ₦112.08 billion, up from ₦59.31 billion in the prior year.
This represents a 89% year-on-year rise in gross profit, driven by efficient production and favorable commodity pricing.
Profit Before and After Tax
Okomu Oil reported a profit before tax of ₦84.10 billion, more than doubling the ₦40.68 billion achieved in the same period of 2024. After accounting for taxation of ₦23.77 billion, the company’s profit after tax stood at ₦60.33 billion, reaffirming its position as one of Nigeria’s most profitable agribusiness companies.
Earnings per share (EPS) rose to ₦63.25, up from ₦29.71 a year earlier, reflecting stronger shareholder value creation and operational efficiency.
Balance Sheet Highlights
The company’s total assets increased to ₦135.40 billion, supported by a rise in fixed assets and biological assets linked to its plantation and processing expansion.
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Fixed Assets: ₦86.47 billion (2024: ₦76.99 billion)
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Biological Assets: ₦76.42 billion (2024: ₦67.77 billion)
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Cash and Bank Balances: ₦25.38 billion (2024: ₦17.33 billion)
Okomu Oil maintained a solid financial position with total net assets of ₦62.39 billion, up from ₦55.48 billion in December 2024, representing a 12.4% increase in shareholders’ funds.
The company’s capital and reserves comprise ₦476.96 million in share capital, ₦1.87 billion in share premium, and ₦60.87 billion in retained earnings, reflecting continued profit reinvestment for business expansion.
Operational Efficiency and Financial Stability
Finance income for the period stood at ₦317.04 million, while finance costs amounted to ₦2.32 billion. The company’s ability to maintain strong earnings despite increased financing expenses highlights effective cost management and high-margin operations.
Okomu Oil’s performance demonstrates the resilience of Nigeria’s agricultural and agro-industrial sector amid macroeconomic headwinds and rising input costs.
The company’s focus on sustainable palm oil and rubber production continues to support revenue diversification and profitability.
Outlook
With rising demand for palm oil derivatives, Okomu Oil is expected to sustain its growth trajectory through strategic investments in processing capacity, yield improvement, and value chain expansion.
The company’s management remains optimistic about its full-year performance, given its strong year-to-date results, solid balance sheet, and efficient cost structure.
