Ikeja Hotel reports N2.4 billion pre-tax profit for Q1 2025 as revenue soars, declares final dividend 

This represents a year-over-year increase of 194.07%, compared to N845.4 million in the first quarter of 2024, driven by a significant rise in revenue.

Revenue for the first quarter reached N6.1 billion, reflecting a 56.99% rise from N3.8 billion reported in the same period last year.

Cost of sales increased to N3 billion, a rise of 35.77% compared to N2.2 billion in Q1 2024.

Less favorably, sales and distribution expenses increased by 37.60% to N210.5 million, while administrative expenses amounted to N519.2 million.

Nonetheless, the group reported profits from core operations of N2.4 billion, which is a 151.54% increase from N968.3 million in Q1 2024.

The group declared a final dividend of 15 kobo gross for every ordinary share of 50 kobo each, payable to shareholders listed on the register as of the close of business on July 4, 2025.

At the close of trading on April 24, 2025, Ikeja Hotel shares were priced at N11.00. In 2025, the group recorded a year-to-date performance of 87.5% in the Nigerian stock market.