Chemical and Allied Products Plc Grows Profit by 38% to ₦1.58 Billion in Q1 2026 as Revenue Rises 15%

Chemical and Allied Products Plc reported a strong first-quarter (Q1) performance for the period ended March 31, 2026, with profit after tax rising by 37.6 percent to ₦1.58 billion.

Revenue increased by 14.9 percent to ₦11.59 billion from ₦10.09 billion recorded in the corresponding period of 2025 as sustained demand across the company’s product portfolio and improved market penetration bolstered overall performance.

Operating profit rose by 40 percent to ₦2.12 billion, up from ₦1.52 billion in Q1 2025 on effective cost management and stronger gross margins during the period.

Finance income also grew by 41.2 percent to ₦372.49 million from ₦263.78 million, contributing to a 39.7 percent increase in profit before taxation, which stood at ₦2.39 billion compared to ₦1.71 billion a year earlier.

Despite a 43.9 percent rise in tax expense to ₦813.34 million, the company maintained strong bottom-line growth with profit after tax closing at ₦1.58 billion.

Earnings per share increased to 194 kobo from 141 kobo, representing a 37.6 percent growth, while net asset per share rose to 1,943 kobo from 1,446 kobo.

On the balance sheet, total equity and liabilities expanded by 22.8 percent to ₦26.41 billion from ₦21.50 billion.

Cash and cash equivalents surged by 69 percent to ₦12.99 billion from ₦7.68 billion, highlighting strong liquidity and improved cash generation during the quarter.

The company also increased its capital expenditure with additions to property, plant and equipment rising by 92.7 percent to ₦386.01 million, compared to ₦200.29 million in the prior period.

Depreciation on property, plant and equipment rose to ₦202.46 million from ₦175.28 million, consistent with the expansion in asset base.

The performance underscores Chemical and Allied Products Plc’s ability to sustain growth momentum amid evolving market conditions, supported by revenue expansion, cost discipline, and strong liquidity position.