Ikeja Hotel Plc has reported a 58.11% year-on-year surge in profit after tax, reaching N1.453 billion for Q2 2025. The performance was backed by a strong 57% increase in profit before tax (PBT), which hit N2.18 billion for the quarter, reflecting significant operating efficiency.
For the first half of 2025, PBT climbed 127% to N4.67 billion, compared to N2.06 billion in H1 2024. This sharp rise in earnings signals the company’s continued dominance and resilience in Nigeria’s hospitality industry amid economic challenges.
Total revenue in Q2 rose 36.6% year-on-year to N6.021 billion, driven primarily by room sales, which accounted for over 71% of the quarter’s earnings. For H1 2025, revenue reached N12.13 billion, with room sales contributing a significant N8.5 billion.
Despite a 14.57% increase in cost of sales to N3.16 billion, gross profit expanded by 83.82% year-on-year to N2.861 billion. The strong margin growth underscores the effectiveness of cost management strategies and high-margin room offerings.
The Board declared an interim dividend of N0.03 per 50 kobo share, payable to shareholders on the register by August 15, 2025, subject to withholding tax. This move highlights Ikeja Hotel’s commitment to delivering shareholder value.
Total assets dipped 6% to N88.34 billion from N93.67 billion as of December 2024, while shareholders’ equity grew by 9.96% to N33.60 billion, driven by retained earnings.
