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Key Highlights (H1 2025 vs H1 2024): Revenue grew by 53% to ₦36.76bn from ₦24.03bn. Gross Profit rose by 73% to ₦8.32bn.

Recovery underway, but revenue pressures and fragile working capital require caution. Catalysts Cost Efficiency Gains: The 38% YoY decline in distribution and administrative expenses to ₦536 million in H1 2025, alongside an 85% reduction in finance charges, has materially improved profitability.

BUA Foods Plc H1/Q2- Strong Operating Momentum Amid Macroeconomic Volatility BUA Foods Plc delivered an impressive performance in H1 2025, showcasing significant growth in revenue and profit across both group and company levels, despite the macroeconomic headwinds and exchange rate volatility. The company's ability to maintain high margins and generate robust profits reinforces its position as a resilient player in Nigeria’s consumer goods and food manufacturing sector.

AXA Mansard reported solid balance sheet growth and resilience in its core insurance and investment business for H1 2025. However, a significant decline in profit before tax (-73% YoY) reflects a normalization from the one-off investment income spike in H1 2024.

Julius Berger Nigeria Plc continues to reinforce its position as a leading construction and infrastructure player in Nigeria, with solid top-line growth, margin resilience, and a robust balance sheet supported by prudent capital management and substantial revaluation gains. The company’s strong operational performance and growing asset base position it favorably to benefit from Nigeria’s increased public infrastructure spending and private sector construction demand.

Neimeth Pharmaceuticals Delivers Strong Turnaround in H1 2025 Despite Financing Cost Pressures Neimeth International Pharmaceuticals Plc posted a robust recovery in its half-year 2025 earnings, underpinned by strong revenue growth and operational efficiency, despite the lingering drag of elevated finance costs. Key Highlights: Revenue Surge : Neimeth reported a 76% year-on-year increase in revenue to ₦2.91 billion in H1 2025, up from ₦1.66 billion in H1 2024.

UPDC Plc has delivered a remarkable turnaround in its H1 2025 financials, showcasing a 148% year-on-year increase in group revenue and a massive 2,568% growth in profit before tax. This rebound stems from improved sales performance, cost containment, and significant finance income.

DAAR Communications Plc’s H1 2025 financial results continue to reflect a structurally weak operational model with persistent bottom-line losses, eroding investor confidence despite the company’s large asset base and historical significance in Nigeria’s media industry. While revenue showed modest growth year-on-year, rising costs, weak cost controls, and negative retained earnings reinforce a bearish investment outlook.

ABC Transport Plc posted a strong turnaround performance in the first half of 2025, reversing its prior year’s loss to deliver a profit before tax of ₦734.37 million, up from a loss of ₦56.24 million in H1 2024. This marks a significant recovery trajectory for the transport company, driven by rising revenue, improved operating efficiency, and non-core income growth.