Academy Press Plc has reported a pre-tax profit of ₦1.17 billion for the financial year ended 31 March 2025, marking a 343.8% increase from ₦264.1 million in FY 2024.
This remarkable earnings surge underlines a major turnaround in the Nigerian publishing industry, driven largely by improved operational efficiency and elevated revenue streams.
Total revenue grew modestly by 1.72%, rising from ₦4.508 billion in FY 2024 to ₦4.58 billion in FY 2025, with book sales remaining the core revenue driver.
Domestic sales, especially across the South West region of Nigeria, contributed significantly, as book sales reached an impressive ₦4 billion.
The cost of sales declined by 8.67%, falling to ₦3.2 billion, enhancing the company’s profitability.
Consequently, gross profit expanded from ₦996.4 million to ₦1.3 billion, a strong indicator of improved operational efficiency within the publishing sector.
Despite growth in profitability, selling and distribution expenses edged up by 2.6%, while administrative expenses saw a notable 20% increase to ₦834.2 million. These rising overheads reflect the company’s investment in distribution infrastructure and staff, positioning Academy Press for sustained growth in the Nigeria publishing industry.
Other operating income soared by an impressive 171.2%, reaching ₦996.9 million, largely driven by profits from asset disposals.
Academy Press reported total assets of ₦3.6 billion, up 16.8% year-on-year. Earnings moved into positive territory with a balance of ₦484.1 million, rebounding strongly from the prior year’s ₦162.6 million loss.
The board has proposed a final dividend of 15 kobo per 50 kobo share, pending approval at the upcoming AGM.
