MeCure Industries Plc’s first-quarter pre-tax profit surged 136 percent to N1.92 billion in the first quarter of 2026 as revenue jumped 52 percent to N20.15 billion, with the drugmaker citing a gradually stabilizing macroeconomic environment.
Earnings per share rose 143 percent to N0.34 in the three-month period ending March, the company said in a statement. MeCure described the macroeconomic backdrop as still challenging but gradually stabilizing.
“The Nigerian economy in early 2026 continues to adjust to the effects of structural reforms implemented over the past year, including foreign exchange liberalization and tight monetary policy aimed at curbing inflation,” the statement said.
“While inflation remains elevated, it has shown signs of gradual moderation, and exchange rate volatility, though still present, has become relatively more predictable,” it noted.
According to the statement, these developments, alongside improvements in global supply chain conditions and easing of energy price pressures, have contributed to a cautiously improving operating environment for manufacturers.
“Within this context, MeCure’s Q1 performance reflects the strength of its strategic positioning. The company continues to benefit from its sustained investment in local manufacturing capacity, which reduces exposure to foreign exchange risks and supports cost efficiency.”
“Enhanced supply chain diversification and improved procurement strategies have also helped mitigate input cost volatility and ensure product availability across key markets.”
Despite ongoing cost pressures—particularly from elevated borrowing costs in a high-interest-rate environment and inflation-driven increases in operating expenses- the company says it maintained strong profitability growth.
This was supported by disciplined cost management, improved product mix, and continued focus on high-margin therapeutic segments, it noted.
“The significant growth in PBT and EPS underscores improved operational efficiency and the Company’s ability to translate top-line growth into enhanced shareholder value.”
It also added that supportive government policies, including continued incentives for local pharmaceutical manufacturing, have helped cushion the impact of imported input costs and reinforced the company’s long-term strategy of deepening local production.
Looking ahead, MeCure says it remains focused on sustaining growth momentum through capacity expansion, innovation and broader market penetration.
“While macroeconomic uncertainties persist— both domestically and globally—the company is well-positioned to capitalize on emerging opportunities within Nigeria’s healthcare sector and continue delivering value to stakeholders.”