ABC Transport Plc has released its unaudited financial statement for the nine months ended September 2025, reporting a pre-tax profit of N926.8 million.
This marks a significant improvement from the modest N1.3 million recorded in the same period of 2024, while post-tax profit surged 363% year-on-year to N585.6 million.
The strong performance was driven by solid revenue growth, other operating income, and better cost management, which together boosted the group’s overall profitability.
ABC Transport Plc reported revenue of N11.92 billion for the nine months ended September 30, 2025, an increase from N8.05 billion recorded in the corresponding period of 2024.
In line with the revenue growth, direct costs rose by 46.1% to N9.38 billion, reflecting higher fuel, maintenance, and operating expenses.
Administrative expenses remained elevated at N1.69 billion, compared to N1.67 billion in 2024.
More favorably, other operating income rose by 37.2% to N424.82 million, with franchise income contributing the bulk at N343.1 million.
Finance costs declined to N299.47 million from N362.37 million, helping to preserve pre-tax profit at N926.85 million, a sharp rebound from N1.30 million in the prior year.
After accounting for an income tax expense of N341.18 million, profit after tax stood at N585.66 million, compared to N126.3 million in 2024.
ABC Transport Plc’s balance sheet reflects a notable expansion, with total assets rising to N13.97 billion as of September 30, 2025, compared to N7.08 billion in 2024.
Total liabilities increased significantly to N12.11 billion compared to N6.54 billion in 2024, driven mainly by higher trade and other payables, new borrowings, and contractual obligations.
Meanwhile, total equity improved to N1.8 billion, up from N540.1 million a year earlier, supported by a rebound in retained earnings, which closed at N33.3 million compared to a N967.1 million deficit in the previous year.