Get Guardian on GoogleZichis Agro-Allied Industries Plc recorded a 179.21 per cent increase in pre-tax profit to N561.32 million in the nine months ended September 30, 2026, compared with N201.04 million in the corresponding period of 2025, on the back of strong growth across its business segments.
The company’s revenue also rose by 162.63 per cent to N1.22 billion from N464.20 million, according to its unaudited interim financial statements filed with the Nigerian Exchange (NGX).
The strong earnings performance coincided with a significant expansion of its balance sheet, driven by increased investments in property, plant and equipment, a N5 billion deposit for shares and substantial growth in total assets.
Profit after tax increased by 221.98 per cent to N536.22 million from N166.54 million, while basic earnings per share rose to N0.47 from N0.28.
Listed on the NGX Growth Board on January 20, 2026, Zichis recorded double- and triple-digit growth across all five disclosed revenue segments, with egg sales remaining its largest source of income.
Revenue from eggs increased by approximately 124 per cent to N394.72 million from N176.25 million, accounting for about 32.4 per cent of total revenue.
Feed mill revenue rose by approximately 231.5 per cent to N293.93 million from N88.67 million, while palm oil revenue increased by 130.1 per cent to N235.53 million.
Chicken sales also grew by approximately 196.6 per cent to N211.34 million, while fish revenue advanced by 225.5 per cent to N83.6 million.
The growth in revenue translated into improved operating performance, with gross profit rising by 210.7 per cent to N781.07 million. Gross margin also improved to 64.07 per cent from 54.16 per cent.
The company recorded N676 million in revenue and N328 million in profit for the full year 2025, meaning its nine-month 2026 revenue had already surpassed the previous full-year figure.
Its tax expense declined by 27.26 per cent to N25.1 million, supporting the growth in profit after tax.
On the balance sheet, total assets increased by 719.36 per cent to N8.71 billion from N1.06 billion as of September 2025, reflecting substantial additions to its asset base.
Property, plant and equipment rose to N6.93 billion, supported by N6.14 billion in additions, including land valued at N5.01 billion.
Inventory also increased by approximately 403 per cent to N988.42 million, while cash and bank balances rose to N373.88 million from N8.46 million.
However, total liabilities surged to N7.06 billion from N53.10 million, comprising N2 billion in long-term debt and approximately N5 billion in deposits for shares.
