McNichols’ 2025 profit attains N391.7 million as beverage sales hit N5.9 billion

McNichols Plc has released its audited 2025 financial results, reporting a pre-tax profit of N391.7 million, more than double the N151.7 million recorded in the previous year.

The performance was driven by solid turnover and higher finance income, with full-year revenue rising 6.95% year-on-year to N6.2 billion.

A closer look shows Nigeria accounted for 100% of earnings, with beverage sales contributing N5.9 billion, representing 95.64% of revenue, while food products made up the balance.

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Earnings per share rose to 27.87 kobo from 10.30 kobo, as the company declared a final dividend of 6 kobo per 50 kobo share, payable August 6, 2026.

**Key highlights (2026 vs 2025) **

• Turnover: N6.2 billion, up 6.95% YoY
• Cost of sales: N5.5 billion vs N5.3 billion
• Operating profit: N333.1 million, up 207.09% YoY
• Finance income: N61.1 million, up 22.52% YoY
• Pre-tax profit: N391.7 million, up 158.25% YoY
• Post-tax profit: N346.3 million, up 199.22% YoY
• Earnings per share: 27.87 kobo vs 10.30 kobo

**Driving the numbers **

Looking at the numbers, revenue rose to N6.2 billion, but this came with higher costs, as the cost of sales increased to N5.5 billion from N5.3 billion.

• Raw materials and consumables made up most of this cost at N5.2 billion, slightly above N5.1 billion.
• After accounting for these top-line costs, gross profit came in at N690.6 million, up from N470.6 million in the 2024 financial year.

However, the company kept a handle on its expenses, as administrative costs dropped to N196.6 million from N216.7 million, while distribution costs rose moderately to N169.7 million.

• Other income of N8.9 million, mainly from the sale of waste products and packaging materials, also contributed to earnings during the year.
• This helped push operating profit up to N333.1 million, marking a strong increase of 207.09% compared to the previous year.

Finance income also improved to N61.1 million from N49.9 million, while finance costs fell sharply to N2.5 million, easing pressure on overall profit.

• As a result, pre-tax profit grew by 158.25% to N391.7 million, and after tax of N45.4 million, profit after tax stood at N346.3 million.

On the balance sheet, total assets increased to N1.8 billion from N1.3 billion, while equity rose to N929.2 million, supported by a strong rise in retained earnings.

**Market reaction **

The market is yet to react to the results, as they were published during the Easter Friday public holiday.

However, the market is expected to respond in subsequent sessions, with the stock already up 104.9% year-to-date as of the pre-market open on April 7, 2026.