Economy
Poor Sales, Naira Instability Threaten PZ Cussons’ FY Profits
By Dipo Olowookere
Leading consumer products company, PZ Cussons Plc, has informed shareholders not to expect rise in its full year profit because of some challenges the firm was battling with.
On Tuesday, the company said its subsidiary in Nigeria is operating under tough conditions, which will eventually have a negative impact on the firm’s overall performance.
PZ Cussons specifically identified low demand of its products in the Africa’s largest market coupled with “extremely challenging conditions.”
As a result, the cosmetics and soap maker said it is likely to declare a sharp decline in pre-tax profit for the year ending May.
The company said full-year adjusted pre-tax profit is now expected to be $92.1 million from 105.4 million a year earlier.
According to the firm on Tuesday, profit from its African business dropped 70.7 percent in the half-year and the arm, which contributes over a third of its revenue, has been struggling to make thing happen with margins being squeezed amid dwindling demand.
In Nigeria, its most important market in Africa, the company said disposable incomes had remained weak ahead of a general election scheduled for February 2019.
PZ Cussons had already warned in December of a lower first-half profit contribution from Nigeria as it faced disruptions in getting goods into the West African nation. It specifically said the major problem is the ongoing cost challenges due to significant disruption being faced in clearing goods at the port and a further 10 percent weakening of the Naira against the US Dollar.
“The group continues to make pleasing progress in Europe and Asia, with new product development and increased support across our key brands delivering positive momentum.
“Disappointingly, however, the macroeconomic conditions in Nigeria remain extremely challenging and continue to have a significant negative impact on overall group performance.
“We anticipate that consumer demand in all our key markets will remain subdued. Whilst these conditions prevail, we will maintain our strong market shares in key product categories in Nigeria until growth returns to the market,” the company’s chair, Caroline Silver, said in an update for the half year to November 30.
Business Post reports that on Tuesday, shares of PZ Cussons rose by 7.52 percent to trade at N12.15k per unit on the floor of the Nigerian Stock Exchange (NSE).
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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