Africa Prudential Plc has announced a solid financial performance for the nine months ended September 30, 2025, posting a Profit After Tax (PAT) of ₦2.05 billion, representing a 53% year-on-year growth from ₦1.34 billion recorded in the same period of 2024.
The performance reflects the company’s strong earnings from financial assets, improved cost discipline, and stable income from its core business operations.
Revenue and Earnings Performance
Revenue from contracts with customers rose 27.3% to ₦965.3 million in 9M 2025, compared to ₦758.5 million in 2024, while cost of sales increased modestly by 17.6% to ₦97.0 million. This resulted in a gross profit of ₦868.4 million, up 28% year-on-year.
The company recorded a remarkable 59% growth in interest income, which rose to ₦4.00 billion from ₦2.51 billion a year earlier, reflecting effective investment management and strong yields on financial instruments.
Other income also improved slightly to ₦239.9 million, up from ₦225.2 million, contributing to a total net operating income of ₦5.11 billion, representing a 49.8% increase from ₦3.41 billion in 2024.
Profitability and Margins
Africa Prudential’s profit before tax (PBT) grew 53.5% year-on-year to ₦3.02 billion from ₦1.97 billion in 2024, while profit after tax advanced 53.5% to ₦2.05 billion.
Total comprehensive income stood at ₦2.42 billion, up 81% from ₦1.34 billion last year, boosted by a ₦367 million fair value gain on quoted equity instruments measured through other comprehensive income (OCI).
Earnings per share (EPS) settled at 51 kobo, compared to 67 kobo in the same period of 2024, reflecting the impact of the company’s share capital increase from ₦1 billion to ₦2 billion.
Balance Sheet Analysis
The company’s total assets rose 20.3% to ₦41.93 billion as of September 30, 2025, up from ₦34.85 billion at the end of 2024. This expansion was primarily driven by a 24.4% rise in debt instruments at amortised cost, which increased from ₦26.32 billion to ₦32.74 billion, alongside a significant increase in deposit for shares, which jumped from ₦70 million to ₦820 million.
On the liability side, customers’ deposits increased 27.8% to ₦26.60 billion, while creditors and accruals rose 39.4% to ₦2.40 billion, reflecting higher transaction volumes and operational activities during the review period.
Equity expanded by 7.6% to ₦11.66 billion, compared to ₦10.84 billion at year-end 2024, supported by retained earnings of ₦7.78 billion and a fair value reserve of ₦1.09 billion.
Operational Efficiency
The company maintained strong cost control, with total personnel and operating expenses contained at ₦1.93 billion, representing an increase of 38% from ₦1.32 billion last year—below the pace of top-line growth.
No finance costs were recorded during the period, further enhancing the company’s bottom-line performance and liquidity strength.
Strategic Outlook
Africa Prudential continues to evolve its business model beyond traditional registrar services into digital transformation and investment income optimization. The company’s strategic focus on technology-driven shareholder management, fintech solutions, and diversified income streams continues to support steady earnings growth.
With its strong balance sheet, zero-leverage position, and growing financial assets, Africa Prudential remains well-positioned to sustain profitability and deliver long-term shareholder value.
Key Financial Highlights (₦’000)
| Metric | 9M 2025 | 9M 2024 | Change (%) |
|---|---|---|---|
| Revenue from Customers | 965,339 | 758,525 | +27.3% |
| Gross Profit | 868,352 | 676,109 | +28.4% |
| Interest Income | 4,002,822 | 2,511,738 | +59.3% |
| Net Operating Income | 5,111,109 | 3,413,078 | +49.8% |
| Profit Before Tax | 3,021,683 | 1,968,870 | +53.5% |
| Profit After Tax | 2,054,744 | 1,338,832 | +53.5% |
| Total Comprehensive Income | 2,422,137 | 1,338,807 | +81.0% |
| EPS (Kobo) | 51 | 67 | — |
| Total Assets | 41,925,323 | 34,845,257 | +20.3% |
| Total Equity | 11,660,337 | 10,838,200 | +7.6% |
Market Impact Summary
Africa Prudential’s strong 9M 2025 results highlight its solid investment management strategy and operational agility in a tight interest rate environment. The company’s growing asset base, sustained profitability, and improved fair value reserves are expected to enhance investor sentiment on the Nigerian Exchange (NGX).
The continued growth in interest income and digital service offerings positions Africa Prudential as a resilient mid-cap financial services player, with potential upside in valuation as market confidence strengthens.