MeCure Industries Plc has reported a pre-tax profit of N6.37 billion for the 9-month period ended 30 September 2025, reflecting an 186% increase from N2.23 billion recorded in the same period in 2024.

According to the unaudited results filed at the NGX, revenue grew by 98.6% year-on-year, reaching N60.01 billion in 9M 2025.

This growth contributed to a post-tax profit of N4.46 billion, a 186% increase from N1.56 billion in 9M 2024.

Consequently, earnings per share rose by 186% year-on-year to N1.10.

MeCure’s revenue growth was led by strong performance across all product segments.

The surge in revenue was underpinned by growing consumer demand, increased local production, and aggressive distribution in the retail and hospital supply chain.

On the cost side, the cost of sales rose nearly in line with revenue (Up 96%), driven by higher raw material purchases and a spike in depreciation due to expanded manufacturing capacity, including the new corticosteroid factory.

Despite this, gross profit margin slightly improved from 33.2% to 34%.

Operating expenses rose by 50%, largely from higher marketing spend and administrative overheads, including utilities and logistics.

Nevertheless, operating profit improved to N13 billion, pushing the margin from 16.6% to 21.7% in 9M 2025.

Finance costs more than doubled to N6.65 billion due to increased borrowings and bank interest, particularly on commercial papers and term loans.

On the balance sheet side, total assets rose to N78.23 billion from N54.84 billion at FY 2024.

Total borrowings increased by 49% to N53.71 billion, mainly from commercial papers (N28.73 billion) and working capital loans (N10.43 billion).

This significantly impacted on finance costs.

MeCure Industries Plc’s stock remained largely flat, moving to its current price of N30.70 on October 23, 2025, from the previous day’s closing price of N28.40.

Year-to-date, the stock has returned approximately 121%, having started the year at N13.90.

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