Chemical and Allied Products Plc ,(NGX: CAP) has reported a 51% year-on-year growth in profit after tax for the full year ended 31 December 2025.
The leading paints and coatings manufacturer in its audited financial statements posted a profit after tax of ₦5.745 billion, 51% higher than the ₦3.807 billion it reported for the full year 2024.
In a press release, the company stated that the strong FY 2025 performance was driven by robust demand for its premium and standard paint brands, disciplined execution of strategy, operational efficiencies and effective cost management, amidst macroeconomic challenges..
Speaking on the results, Managing Director, Bolarin Okunowo, said: “We are pleased to present our audited results for FY 2025. Revenue, operating profit, and profit before tax grew by 23%, 48%, and 51%, respectively.
These achievements are credited to the disciplined execution of our strategy and the continued trust and commitment of our customers, trade partners and employees.
As we look ahead to 2026, we will build on this positive momentum by deepening our investments in our people, brands and operations, ensuring we continue to meet and exceed the expectations of our customers and stakeholders.”
The Board has proposed a full-year dividend of ₦4.00 per ordinary share of 50 kobo each, a 67% increase from ₦2.40 per share in 2024.
Statements of Profit and Loss
CAP Plc reported a 23% growth in revenue, rising from ₦36.362 billion reported in 2024 to ₦44.855 billion in 2025.
Gross profit rose 32% to ₦19.440 billion. Operating profit increased 48% to ₦8.069 billion.
Profit before tax for 2025 stood at ₦9.138 billion, 51% higher than the ₦6.064 billion reported in 2024. The company paid tax of ₦3.393 billion.
At the end of the period, CAP Plc posted a profit after tax of ₦5.745 billion, 51% higher than the ₦3.807 billion reported in 2024.
Earnings per share rose to 705 kobo (2024: 467 kobo).
Statements of financial position
Total assets as at 31 December 2025 stood at ₦24.466 billion (31 Dec. 2024: ₦19.677 billion).
Total liabilities as at 31 December 2025 was ₦10.218 billion (31 Dec. 2024: ₦9.041 billion).
Shareholders’ equity stood at ₦14.248 billion (31 Dec. 2024: ₦10.636 billion). Retained earnings grew from ₦8.737 billion to ₦12.348 billion.
Statements of cash flows
The company generated strong cash flows, with cash and cash equivalents rising 67% to ₦11.736 billion (31 Dec. 2024: ₦7.015 billion).
About the Company
Chemical and Allied Products Plc (CAP) is a leading paints and coatings company in Nigeria with globally recognised brands such as Dulux, Sandtex, Caplux and Hempel. CAP manufactures and sells decorative paints and industrial coatings. CAP is the sole technological licensee of AkzoNobel Coatings International B.V. and the Nigerian representative of Hempel Paints.
The Company pioneered the colour centre concept in Nigeria in 2005 and currently operates 152 outlets nationwide. CAP is a public limited company listed on the Nigerian Exchange Group (NGX) and a subsidiary of UAC of Nigeria Plc which holds 57.85% of the ordinary shares of the Company. The address of its registered office is 2, Adeniyi Jones Avenue, Ikeja, Lagos.
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