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Cadbury Nigeria Plc has delivered a compelling turnaround in its H1 2025 performance, shifting from a loss position in 2024 to significant profitability, supported by sharp revenue growth, improved cost efficiency, and stronger operating leverage. While the earnings rebound is impressive, balance sheet concerns, especially around borrowings and cash erosion, suggest a need for cautious optimism.

Japaul Gold & Ventures Plc has delivered a steady half-year performance in 2025, sustaining profitability and maintaining a positive net asset position despite a modest revenue base. With growing administrative costs and limited diversification of income streams, the company demonstrates resilience but also reveals areas that require strategic reinforcement.

C&I Leasing Plc H1/Q2 Result – Leveraging Operating Efficiency Amidst Capital Constraints C&I Leasing Plc demonstrates a solid operational performance trajectory, underpinned by strong leasing income growth and sustained profitability. The company has effectively managed to scale gross earnings by 12.5% YoY to ₦20.47 billion in H1 2025 (vs.

FTN Cocoa Processors Plc has made commendable progress in trimming its losses for the half-year ended June 2025, reducing its pre-tax loss by 89% from ₦10.5 billion to ₦1.1 billion. Despite this, the company remains in negative territory, with a fragile equity position, rising liabilities, and declining asset base—all of which suggest that recovery is still a work in progress.

Jaiz Bank Plc has delivered a resilient half-year 2025 performance, marked by strong earnings growth, expanding income streams, and a relatively stable cost profile. Gross income from financing and investment transactions rose 32% YoY to ₦44.01 billion, with net income after provisions reaching ₦43.66 billion, indicating efficient risk asset management despite a modest impairment loss.

Income Statement Analysis (6 Months Ended 30 June 2025) Metric H1 2025 (₦’000) H1 2024 (₦’000) % Change Revenue 12,131,817 8,207,077 +47.8% Gross Profit 5,962,385 3,232,529 +84.5% Operating Profit 4,566,128 2,208,959 +106.7% Profit Before Tax 4,670,347 2,058,921 +126.8% Profit After Tax (PAT) 3,109,081 1,342,294 +131.6% EPS (Kobo) 144 62 +132.3% Profit Margin significantly improved due to: Strong revenue growth of ~48%. Controlled administrative & distribution expenses.

Strengths: Significant Asset Growth Total assets grew by 17% to ₦66.74 billion, driven by impressive increases in cash (+118%) and financial assets (+27%), indicating a strengthened balance sheet and liquidity position. Strong Insurance Service Performance The insurance service result rebounded significantly to ₦3.26 billion, reversing the prior year’s loss of ₦9.56 billion—evidence of operational recovery.

Oando Plc’s H1 2025 financials reflect volatile earnings marked by margin compression and irregular income streams. While revenue remains robust and the company posted a profit for the half-year due to one-off tax credits and finance income, the underlying core operations signal significant weaknesses.