Group revenue rose by 35% year-on-year to N111.38 billion, compared with N82.64 billion in 2024, reflecting pricing adjustments, better capacity utilisation, and stronger demand for foam, mattresses, and bedding products. This top-line expansion translated into a significant improvement in profitability, with profit before income tax surging by 1,775% to N21.48 billion from N1.15 billion a year earlier.
Profit after tax also recorded a dramatic upswing, climbing by 1,427% to N14.54 billion from N952 million. Basic earnings per share improved sharply to N9.43, compared with a loss of 72 kobo in the previous year, highlighting the scale of the earnings recovery.
On the back of this performance, Vitafoam has proposed a dividend of N3.00 per share, amounting to N3.75 billion for the year, representing a 1,455% increase over the prior year. The company also announced a bonus issue of one ordinary share of 50 kobo for every five existing shares held as of February 6, 2025, signalling management’s confidence in the sustainability of earnings.
At the company level, revenue rose by 33% to N97.40 billion from N73.49 billion in 2024. Profit before tax reversed from a loss of N1.06 billion to a profit of N17.49 billion, while profit for the year improved to N11.79 billion from a loss of N906.5 million. Net assets per share increased by 41% to N24, supported by a 42% rise in total equity to N35.55 billion.
The company’s improved fundamentals have been reflected strongly in its market performance. Vitafoam’s share price closed at N79.80 as of September 30, 2025, up from N22 a year earlier, representing a 263% increase. Market capitalisation expanded to N99.82 billion from N27.52 billion, with shares outstanding unchanged at 1.25 billion.
On the Nigerian Exchange, the stock closed at N94.60 on December 24, 2025. From a starting price of N23.00 at the beginning of the year, Vitafoam has delivered a 311% year-to-date gain, ranking it among the top performers on the NGX. Over the past four weeks, the stock gained 13%, while trading activity over the last three months showed 99.6 million shares exchanged in 10,483 deals valued at N8.56 billion.
Management’s ability to navigate Nigeria’s high-inflation environment through effective pricing strategies and tighter cost controls played a key role in the earnings rebound. Improved capacity utilisation and stronger consumer demand helped offset rising energy and raw material costs, allowing the company to move decisively from losses to solid profitability.
Overall, the 2025 results underscore a significant strengthening of Vitafoam’s business fundamentals. The sharp rise in profit, improved balance sheet, and enhanced shareholder returns position the company to sustain dividend payments and pursue future growth opportunities, reinforcing investor confidence in its long-term outlook.