Vitafoam Profit Jumps 47% to N21.31 Billion as Revenue Hits N117.36 Billion

Vitafoam Nigeria Plc has reported a 46.6% improve in revenue after tax to N21.31 billion for the monetary 12 months ended September 30, 2026, in contrast with N14.54 billion recorded within the corresponding interval of 2025.

The foam and bedding producer disclosed this in its unaudited monetary statements, which confirmed that income elevated by 5.4% to N117.36 billion from N111.38 billion a 12 months earlier.

Profit earlier than tax rose by 51.2% to N32.48 billion from N21.48 billion, supported by improved working margins and a big discount in finance prices.

Gross revenue elevated by 20.6% to N49.40 billion from N40.96 billion as the corporate recorded decrease manufacturing prices regardless of increased income.

Cost of gross sales declined by 3.5% to N67.96 billion from N70.42 billion, serving to Vitafoam enhance its gross revenue margin to 42.1% from 36.8% within the earlier monetary 12 months.

However, administrative bills elevated by 24.9% to N13.02 billion, in contrast with N10.42 billion recorded in 2025.

Distribution bills additionally rose by 8.9% to N4.45 billion from N4.08 billion, reflecting increased prices related to the corporate’s operations.

Despite the rise in working bills, Vitafoam recorded a 21.5% improve in working revenue to N33.15 billion from N27.28 billion.

The firm’s monetary efficiency acquired extra help from a pointy discount in borrowing prices.

Finance prices declined by 83.2% to N973.84 million from N5.81 billion, whereas finance earnings elevated to N300.01 million from N10.91 million.

The discount in financing bills contributed considerably to the corporate’s improved profitability, with revenue earlier than tax rising quicker than income.

Tax bills, nonetheless, elevated by 60.8% to N11.16 billion from N6.94 billion, limiting the expansion recorded in revenue after tax.

Earnings attributable to shareholders of the guardian firm elevated by 47.3% to N19.91 billion from N13.51 billion within the earlier monetary 12 months.

Basic earnings per share rose to 1,591 kobo, equal to N15.91, from 1,080 kobo, or N10.80, in 2025.

Meanwhile, Vitafoam’s fourth-quarter efficiency confirmed a stronger enchancment in profitability regardless of a marginal decline in income.

Revenue for the three months ended September 30, 2026, declined by 1% to N28.80 billion from N29.09 billion within the corresponding quarter of 2025.

However, revenue after tax elevated by 55.6% to N7.73 billion from N4.97 billion, whereas revenue earlier than tax rose by 59.1% to N11.71 billion from N7.36 billion.

Operating revenue for the quarter additionally elevated by 33% to N11.74 billion from N8.82 billion.

The outcomes confirmed that Vitafoam sustained earnings progress by means of improved gross margins and decrease financing prices, at the same time as income progress remained modest.

The firm additionally disclosed an anticipated earnings per share of N13.26 following the allotment of bonus shares, in contrast with its reported fundamental earnings per share of N15.91.