MeCure Industries PLC achieved a profit before tax (PBT) of N1.92 billion in its first quarter (Q1) operations, over 100 per cent up from N812 million recorded in the same period last year.

The company’s financial statement for the first quarter ended March 31, 2026 showed a 136 per cent rise in profit from N812 million to N1.92 billion, while its revenue also increased from N13.2 billion to N20.15 billion, representing a 52 per cent year-on-year growth.

Its earnings per share (EPS) also stood at N0.34, representing a 143 per cent year-on-year increase. The Nigerian economy in early 2026 continues to adjust to the effects of structural reforms implemented over the past year, including foreign exchange (FX) liberalisation and tight monetary policy aimed at curbing inflation.

While inflation remains el evated, it has shown signs of gradual moderation, while the exchange rate has also been relatively predictable.

The company continues to benefit from its sustained investment in local manufacturing capacity, which reduces exposure to foreign exchange (FX) risks and supports cost efficiency.

Despite ongoing cost pressures, particularly from elevated borrowing costs in a high-interest-rate environment and inflation-driven increases in operating expenses, the company maintained strong profitability.