May & Baker Nigeria Plc reported a profit after tax of ₦3.34 billion for the nine months ended September 30, 2025, up 77% from ₦1.89 billion recorded in the same period of 2024.
Revenue increased to ₦29.53 billion from ₦21.82 billion in 2024, driven by higher product demand and improved pricing.
Cost of sales rose to ₦19.41 billion from ₦15.06 billion, while gross profit expanded to ₦10.11 billion, compared to ₦6.76 billion last year.
Operating profit rose sharply to ₦5.08 billion, up from ₦2.89 billion in 2024, reflecting efficient cost management and improved sales volumes. Profit before tax stood at ₦4.92 billion, compared to ₦2.78 billion a year earlier.
Tax expenses increased to ₦1.57 billion from ₦888.4 million, resulting in a profit after tax of ₦3.34 billion. Earnings per share improved to 193.73 kobo from 109.43 kobo recorded in 2024.
For the third quarter alone, the company recorded a profit of ₦1.16 billion, compared to ₦426 million in Q3 2024, with revenue rising to ₦10.24 billion from ₦7.85 billion.
May & Baker Nigeria Plc said it remains focused on sustaining growth through increased local production, market expansion, and cost optimization to strengthen profitability for the full year 2025.