Chemical and Allied Products Plc (CAP) has released its financial statements for the year ended 31 December 2025, reporting a pre-tax profit of N9.1 billion.
This marks a 50.51% increase compared to the N6.06 billion recorded in 2024, with the fourth quarter alone contributing N3.6 billion, up 84.08% year-on-year.
The strong performance in both the fourth quarter and the full year was driven by robust sales, higher other income, and a significant rise in finance income.
For the full 12 months of 2025, the company generated revenue of N44.8 billion, up 23.36% from N36.3 billion the previous year.
A closer look at the results shows that the sale of paint products accounted for nearly all the revenue, contributing N44.8 billion (99.9%), while services added a modest N46.2 million.
Selling and marketing expenses rose 28.11% to N4.5 billion, while administrative expenses increased 17.77% to N7.3 billion.
With finance costs falling significantly to N1.4 million from N30.1 million, pre-tax profit ultimately settled at N9.1 billion.
The company’s balance sheet showed strong growth, with total assets rising 25.53% to N24.7 billion.
On the liabilities side, total obligations increased 11.01% to N10.03 billion, with trade and other payables making up the largest portion at N4.9 billion.
Shareholders’ equity strengthened to N14.6 billion from N10.6 billion in the previous year, with retained earnings remaining the largest component at N12.7 billion, up 46.10%.