Okomu Oil Profit Rises 459% to ₦34.841B in Q2 2025 on 128% Revenue Growth & Lower Costs

Okomu Oil Plc has recorded a pre-tax profit of ₦34.841 billion in Q2 2025, a 459% increase year-on-year from ₦6.236 billion in Q2 2024, more than double its forecast. The result increases the company’s H1 pre-tax profit to ₦67.053 billion, highlighting its robust earnings strength.

Revenue shot up 128% YoY to ₦71.7 billion for Q2, led mainly by domestic sales, which accounted for more than 92% of group turnover, while cost of sales increased a modest 41% to ₦42.9 billion YTD. The increasing revenue-cost differential propelled Q2 gross profit above ₦44 billion and raised the gross profit margin to a whopping 62%.

One of the notable drivers of profitability improvement was the massive decline in finance costs, which fell to ₦547 million in Q2 from ₦2.9 billion in Q2 last year, primarily due to substantially lower foreign-exchange revaluation losses. The fall in cost meant that even more revenue translated into the bottom line, a factor that amplified profitability.

On the balance sheet front, total assets increased to ₦159.911 billion as of June 2025, a 36.6% increase in just six months. Retained earnings also increased to ₦76.693 billion from ₦53.957 billion as of December 2024, putting the company in good standing for long-term reinvestment.

By market close on July 23, 2025, Okomu Oil stock stood at ₦930, boasting a robust year-to-date performance of 109.46% on the Nigerian Stock Exchange.