The Okomu Oil Palm Company Plc has released its financial results for the third quarter of 2025, reporting a pretax profit of N17.04 billion, compared to N11.4 billion recorded in the corresponding period of 2024.
This brought pretax profit for the nine-month period to N84.09 billion, representing an increase of 106.73% from N40.6 billion reported in the same period last year.
The improvement was supported by higher turnover, as Q3 revenue rose 52.44% to N44.1 billion, bringing the nine-month figure to N173.9 billion, up 67.34%.
Cost of sales rose alongside revenue, reaching N18.9 billion in Q3 2025 from N14.1 billion in the prior year, with oil palm operations accounting for 87.96% of the total.
Net operating expenses rose by 82.4% to N7.4 billion, leaving operating profit at N17.7 billion, up 65.4% from the previous year.
Finance income declined to N219.1 million from N2 billion in Q3 2024, while finance costs also fell to N876.1 million from N1.3 billion.
Nevertheless, the bottom line remained firm, with pretax profit rising 49.36% year-on-year, while profit after tax advanced 57.13% to N12.7 billion.
On the balance sheet, fixed assets were valued at N76.4 billion. When combined with biological assets and rights of use, total non-current assets amounted to N86.4 billion, representing a 12.32% increase from the previous year.
Current assets rose to N48.9 billion from N40 billion in 2024. Of the total current assets, cash and bank balances accounted for the largest portion at N25.3 billion.
Current liabilities were mainly composed of trade payables and other obligations, which increased to N39 billion from N26.1 billion in the prior year.
The company also declared an interim dividend of N10.00 per 50 kobo ordinary share, subject to applicable withholding tax.
Shares of Okomu Oil are currently priced at N1,020.00, up 129.7% year-to-date.
In the third quarter of 2025, the stock gained 29%, making it the second-best performing quarter of the year, behind Q2’s 44.90% advance.