Chemical and Allied Products (CAP) Plc has reported a 12.5% increase in profit after tax to N4.13 billion for the nine months ended September 30, 2026, compared with N3.68 billion recorded in the corresponding period of 2025.
The paint manufacturer disclosed this in its unaudited financial statements, which showed that revenue increased by 11.3% to N33.69 billion from N30.27 billion a year earlier.
During the period under review, operating profit rose by 21% to N5.78 billion from N4.78 billion, signaling stronger earnings from the company’s operations.
The increase in operating profit outpaced revenue growth with the company’s operating profit margin improving to approximately 17.2% from 15.8% in the corresponding period of 2025.
Finance income also increased by 40.3% to N1.05 billion from N746.11 million, contributing to the company’s overall profitability.
Consequently, profit before tax grew by 20.8% to N6.62 billion, compared with N5.49 billion recorded in the first nine months of 2025.
However, taxation increased by 37.6% to N2.49 billion from N1.81 billion, limiting the growth recorded in profit after tax.
Despite the higher tax expense, Chemical and Allied Products sustained its earnings growth with basic and diluted earnings per share increasing by 12.4% to 507 kobo, equivalent to N5.07 from 451 kobo or N4.51 a year earlier.
Meanwhile, the company’s financial position also improved during the period.
Total equity and liabilities increased by 19.2% to N24.70 billion from N20.73 billion in the corresponding period of 2025.
Cash and cash equivalents rose by 29.9% to N10 billion from N7.70 billion, indicating an increase in the company’s reported cash holdings.
The financial statements also showed that additions to property, plant and equipment more than doubled to N1.38 billion from N672.53 million, representing an increase of 104.5%.
Depreciation on property, plant and equipment increased by 18.5% to N660.76 million from N557.38 million.
Net asset value per share rose by 22.3% to 1,856 kobo, equivalent to N18.56, compared with 1,517 kobo, or N15.17, in the corresponding period of 2025.
The results showed that Chemical and Allied Products maintained revenue and profit growth during the nine-month period, supported by higher operating earnings and finance income.
However, the increase in taxation reduced the proportion of pretax profit retained by the company.
For investors, the company’s improved operating margin, stronger cash position and increased investment in property, plant and equipment were among the notable developments in its latest financial results.
