PZ Cussons Nigeria Plc, the consumer goods major, has announced its intention to secure shareholder approval for a N98 million remuneration package for its Non-Executive Directors (NEDs) for the financial year ending May 31, 2026. This remuneration will be disbursed in addition to sitting allowances.
The proposal is one of several key resolutions slated for consideration at the company's 77th Annual General Meeting (AGM), scheduled to take place in Abuja on December 3, 2025.
Financial Performance Highlights a Major Recovery
The remuneration proposal comes on the heels of a significant financial recovery for the company. PZ Cussons will present its full-year 2025 Financial Statements at the AGM, which show a pre-tax profit of N16.6 billion.
This result represents a remarkable turnaround from the substantial N122.4 billion loss reported in the 2024 financial year. The recovery was primarily driven by two factors:
- Revenue Growth: Revenue for the year jumped to N212.6 billion, up from N152.2 billion in the previous year. The Home and Personal Care segment was the main driver, contributing N126 billion, followed by durable electronic appliances, which brought in N86.5 billion.
- Reduction in FX Losses: The company achieved its biggest relief by dramatically cutting foreign exchange losses from N157.9 billion in 2024 to just N7.7 billion in 2025.
This improved environment led to the Group’s operating result swinging from a N124.4 billion loss to a N18.9 billion profit.
Strong Q1 Momentum and Shareholder Resolutions
The positive momentum continued into the first quarter ended August 31, 2025, with profit before tax soaring to N21.54 billion, reversing a N5.22 billion loss recorded in the corresponding quarter of the previous year.
In addition to the financial report, shareholders will also vote on:
- Re-election of Directors: Mrs. Ifueko M. Omoigui Okauru, MFR, Dr. Suleyman A. Ndanusa (OFR), and Mr. Dimitris Kostianis.
- Election of New Directors: Chief Anthony Idigbe, SAN, PhD, and Mr. Richard Walker.
Market Trend
Reflecting the dramatic financial turnaround, PZ Cussons Nigeria’s shares have experienced strong performance on the Nigerian Exchange, recording a year-to-date gain of over 58%. The stock, which started 2025 at N24.30, is currently trading around N38.50, indicating continued investor confidence in the company's recovery trajectory.