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Okomu Oil Palm Plc has reported a significant 404.4% year-on-year increase in its Q2-25 earnings per share to NGN27.05, driven by substantial revenue growth.
The company’s revenue grew by 127.5% year-on-year, primarily driven by broad-based sales growth in both local and export markets.
The topline performance was underpinned by stronger Crude Palm Oil (CPO) prices.
According to company’s financials submitted to the NGX for verification on Friday, the Oil Palm’s giant gross margin expanded by 25.71 percentage points year-on-year to 61.8%, reflecting a slower rise in the cost of sales relative to topline growth.
The company’s EBITDA and EBIT margins also expanded to 51.2% and 49.3%, respectively.
The company recorded a profit before tax of NGN34.85 billion in Q2-25, representing a 458.9% year-on-year increase. Following a tax expense of NGN9.05 billion, profit after tax came in at NGN25.80 billion.
The strong performance is expected to be sustained over the rest of the year, supported by strong domestic pricing dynamics, cost efficiency, and a stable currency environment. However, softer global CPO prices in H2-25 pose a potential risk to revenue momentum.
