According to the company’s audited financial statements, profit before tax soared by 1,751 per cent to N21.2 billion, compared with N1.1 billion in the previous year. Profit after tax climbed to N14.3 billion from N952 million, while earnings per share jumped from 29 kobo to N10.67.
Commenting on the results, Vitafoam Nigeria’s Group Managing Director highlighted that the performance reflected the company’s commitment to operational excellence, cost efficiency, and sustainable value creation. “We are delighted with our strong performance this year, particularly the significant growth in operating profit and the marked improvement in cost efficiency,” he said. “These results reaffirm the success of our strategic initiatives centered on financial discipline, brand strength, and long-term value creation. Our continued investments in operational efficiency, product innovation, and sustainable energy solutions position Vitafoam for sustained growth in the coming year.”
For the 2024 business year, the company had paid N1.31 billion in cash dividends, equivalent to a dividend per share of N1.05.
Vitafoam’s strong 2025 results come on the back of robust top-line growth in the previous year. Turnover for 2024 had risen by 56 per cent, from N52.9 billion in 2023 to N82.6 billion, although forex losses had partially tempered the gains. The latest financials suggest that the company has successfully navigated past these challenges, setting the stage for continued growth.