Vitafoam Nigeria Plc has reported a 1,427% year-on-year surge in profit after tax to ₦14.54 billion for the financial year ended 30 September 2025, marking one of the strongest earnings recoveries in Nigeria’s consumer manufacturing sector in recent years.
The result represents a sharp increase from ₦952.19 million recorded in the previous financial year and underscores a decisive turnaround under Taiwo Adeniyi, Group Managing Director and Chief Executive Officer, following a period of macroeconomic stress and cost volatility across the manufacturing industry
Group revenue rose 35% to ₦111.38 billion, up from ₦82.64 billion in FY2024, driven by stronger sales across Vitafoam’s bedding, rigid insulation, furniture and allied comfort products, as well as improved regional distribution within Nigeria and the wider West African market.
Profit before tax climbed to ₦17.49 billion, reflecting improved pricing discipline, higher capacity utilisation and tighter cost controls across the group’s manufacturing operations in Ikeja, Aba, Jos and Kano. Earnings per share rose sharply to ₦9.43, from a loss of ₦0.72 in the prior year.
On the back of the strong earnings performance, the board has proposed a cash dividend of ₦3.00 per share, representing a 186% increase over the previous year’s payout and signalling restored confidence in the company’s cash flow position and balance-sheet strength.
Vitafoam’s financial recovery was also reflected in capital markets performance. The company’s share price closed the year at ₦79.80, more than tripling year-on-year, lifting market capitalisation to ₦99.8 billion, from ₦27.5 billion a year earlier.
During the year, the group invested over ₦1.07 billion in property, plant and equipment to upgrade production facilities, support product innovation and strengthen long-term operational efficiency. Management said the investments were aimed at sustaining quality standards, improving output consistency and supporting expansion into premium product segments.
Beyond Nigeria, Vitafoam’s Sierra Leone subsidiary continued to scale operations, supplying domestic demand and supporting exports into neighbouring ECOWAS markets, reinforcing the group’s regional growth strategy.
For investors, the FY2025 results mark a clear inflection point. With equity rising to ₦25.03 billion, dividend capacity restored and earnings momentum firmly re-established, Vitafoam enters the new financial year from a position of renewed financial strength and market credibility.