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    Nigeria : University Press reports 378.9% jump in yearly profit on rising school book sales and other income

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    University Press Plc has released its audited results for the financial year ended March 31, 2025, posting a strong rebound with a pre-tax profit of N619.7 million.

    This marks a 378.9% turnaround from the N222.1 million loss recorded in the previous year, driven by a solid rise in revenue and other income.

    Revenue grew by 29.26% to N3.4 billion, up from N2.6 billion in the prior year, with the bulk of sales recorded in the South West region.

    All of the company’s revenue came from the sale of printed books. Of this:

    • Secondary school books generated N1.7 billion, accounting for 51.93% of total revenue.
    • Primary school books followed with N1.5 billion or 45.49%.
    • While Tertiary/General Reference books brought in N87.6 million, contributing the remaining share.

    Despite a spike in cost of sales, from N1.1 billion to N1.4 billion, gross profit still rose by 34.10% to reach N1.9 billion.

    The company’s profitability was further boosted by a sharp rise in other income, which surged to N407 million from N62.6 million in the prior year.

    • A significant portion, N311.3 million, came from the disposal of property, plant, and equipment.

    As a result, profit from operations came in at N541.3 million, reversing a N247.7 million loss recorded in 2024, even after accounting for marketing and administrative expenses.

    Finance income also rose impressively to N78.3 million, from N25.5 million the previous year, all of it earned from interest on fixed deposits.

    • On the balance sheet, net assets grew to N3.4 billion, a rise of 11%, while revenue reserves increased to N2.05 billion, up from N1.61 billion.

    Key highlights (2025 vs 2024)

    • Revenue: N3.4 billion, +29.26% YoY
    • Cost of Sales: N1.4 billion, +23.24% YoY
    • Gross Profit: N1.9 billion, +34.10% YoY
    • Other Income: N407 million, +549.71% YoY
    • Operating Profit: N541.3 million, +318.49% YoY
    • Finance Income: N78.3 million, +206.43% YoY
    • Pre-Tax Profit: N619.7 million, +378.93% YoY
    • Net Assets: N3.4 billion, +11.00% YoY

    As of market close on June 30, 2025, the company’s shares stood at N5.60, reflecting a year-to-date gain of 45.45%.

     

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