University Press Plc has recorded significant growth in its revenue in 2024, with revenue rising by 29 per cent from N2.62 billion to N3.40 billion in 2025.

The company’s revenue and profit figures improved significantly, reflecting both a rebound in sales and strategic efforts to control costs and enhance efficiency.

The Chairman of the company, Obafunso Ogunkeye, stated this yesterday at the 47th yearly general meeting of the firm in Ibadan, Oyo State.

Ogunkeye said that against this challenging national and global economic backdrop, the company achieved a remarkable turnaround in the 2024/2025 financial year.

“I am delighted to report that we not only returned to profitability but also delivered robust growth across all key performance metrics, effectively overcoming the losses of the previous year.”

He said higher sales of the core educational titles across the market regions drove this strong top-line growth. Demand remained resilient despite economic pressures, underscoring the importance of the company’s products to the education sector.

He said Profit Before Tax is N619.7 million, a remarkable turnaround from the N222.2 million loss recorded in 2023/2024. This swing back to pre-tax profit was achieved through revenue growth, improved gross margins, and a significant boost in other income, including one-off gains from asset disposals during the year.

He noted that it is a testament to management’s focus on operational efficiency and prudent financial management.
According to him, Net Profit After Tax of N450.6 million, compared to a net loss of N157.7 million in the previous year, is an impressive recovery that speaks to the company’s resilience.

He said after-tax profitability was restored through the combination of higher operating profit and careful cost control, despite absorbing higher financing costs and taxes.

The Managing Director of the company, Samuel Kolawole, said the company approaches the future with optimism and confidence.

Kolawole said the firm’s financial footing provides a solid platform for continued growth.

“We see opportunities to deepen our presence in the market and to serve our customers even better. In the coming year, our strategy will be to build on the gains of 2024/2025 by further strengthening our core publishing business, expanding our reach to more schools and regions, and continuously improving operational efficiency.

“We will remain vigilant and agile in the face of ongoing economic challenges, including inflationary pressures and shifts in education funding, and we will respond proactively, as we have done in the past,” he said.

According to him, the Nigerian education sector is evolving, and so are the needs of learners in the digital age. He said the company will continue to adapt to these trends, leveraging its long-standing expertise and experience.
“By staying true to our mission and embracing prudent innovation (within our core strengths), we are confident of sustaining the positive trajectory achieved this year,” he said.

Besides, the company declared a 15 kobo dividend to shareholders, which represents a considerable increase over the token 2.5 kobo per share paid in the previous year and underscores the commitment to reward shareholders’ faith in the company.

The dividend of 15 kobo translates to a total payout of approximately N64.7 million to be distributed to shareholders.

This distribution strikes a balance between the desire to return value to shareholders and the need to retain earnings for future growth. It reflects the Board’s confidence in the sustainability of earnings and the strength of its balance sheet.