Premier Paints PLC has posted a modest profit for the financial year ended December 31, 2025, marking a turnaround from losses recorded in the previous year, supported by steady revenue growth in Nigeria’s paints and coatings market.
Financial Performance Highlights
The company reported revenue of between ₦148.1 million and ₦149.91 million, representing a growth of roughly 13–14.6% compared to ₦130.83 million in 2024. The increase was driven by demand across its core segments, including decorative paints, wood finishes, industrial coatings, and auto refinishes.
Profitability also improved significantly:
- Profit Before Tax rose to between ₦2.48 million and ₦3.56 million, compared to a loss of ₦0.48 million in 2024
- Net Profit After Tax came in at ₦1.99 million to ₦2.16 million, reversing the prior year’s loss of ₦0.71 million
- Earnings Per Share (EPS) turned positive at 0.02 kobo, from a negative (0.01) kobo previously
Despite the return to profitability, the company did not declare a dividend for the year.
Cash reserves remained relatively low at around ₦1.92 million, highlighting ongoing liquidity constraints.
Balance Sheet Concerns Persist
The company’s balance sheet still reflects structural weaknesses:
- Negative equity stands at approximately ₦217.7 million–₦217.9 million
- Total assets declined slightly to about ₦160 million
- Liabilities remain elevated, with net debt estimated between ₦366 million and ₦377 million
Management acknowledged material uncertainty regarding going concern, but noted continued backing from its major shareholder, TGHL Capital Limited, which holds roughly 50–52% equity. Plans are also underway to raise funds through a private placement.
