MeCure Industries Plc has launched its unaudited monetary outcomes for the 9 months ended 30 September 2026, reporting a pre-tax profit of N8.64 billion.
This represents a rise of 35.71% from N6.37 billion recorded within the corresponding interval of 2025.
The development in profitability was supported by a 17.05% improve in income to N70.24 billion from N60.01 billion, alongside a 50.87% discount in advertising and marketing bills.
Consequently, profit after tax elevated by 35.71% to N6.05 billion from N4.46 billion, whereas earnings per share rose by 36.04% to N1.51 from N1.11.
Key Highlights
The figures evaluate 9M 2026 with 9M 2025, besides steadiness sheet objects, that are in contrast with December 2025.
- Revenue: N70.24 billion (Up 17.05% YoY from N60.01 billion).
- Cost of gross sales: N46.11 billion (Up 16.44% YoY from N39.60 billion).
- Gross profit: N24.13 billion (Up 18.22% YoY from N20.41 billion).
- Marketing bills: N1.30 billion (Down 50.87% YoY from N2.64 billion).
- Administrative bills: N5.78 billion (Up 18.33% YoY from N4.89 billion).
- Operating profit: N17.49 billion (Up 34.32% YoY from N13.02 billion).
- Finance prices: N8.84 billion (Up 32.99% YoY from N6.65 billion).
- Total property: N93.35 billion (Up 13.90% from N81.96 billion).
- Cash and money equivalents: N4.32 billion (Down 33.28% from N6.48 billion).
- Total fairness: N24.59 billion (Up 24.04% from N19.82 billion).
Driving the numbers
MeCure’s nine-month efficiency was pushed primarily by stronger pharmaceutical gross sales, notably in acute medicines, over-the-counter merchandise, and narcotics.
Revenue elevated by 17.05% to N70.24 billion, with acute medicines contributing N40.24 billion, representing roughly 57.29% of whole income.
- Acute medication gross sales elevated by 19.62% from N33.64 billion, making the class the corporate’s largest income contributor.
- Over-the-counter merchandise additionally recorded robust development, rising by 28.35% to N14.61 billion from N11.38 billion, contributing 20.80% of whole income.
- Narcotics income elevated by 168.71% to N2.83 billion from N1.05 billion, whereas continual medication gross sales rose by 2.39% to N5.56 billion.
- However, multivitamin gross sales declined by 32.41% to N5.75 billion from N8.50 billion, partly offsetting positive factors throughout different product classes.
- Contract manufacturing contributed N935.50 million, whereas promotional gross sales generated N315.98 million.
On direct prices, dost of gross sales elevated by 16.44% to N46.11 billion, pushed primarily by direct supplies consumed, which rose by 7.41% to N38.85 billion from N36.17 billion.
- Direct supplies accounted for about 84.26% of whole manufacturing prices, highlighting their significance to profitability.
- Depreciation inside manufacturing prices elevated to N4.27 billion from N3.66 billion, whereas direct labour bills rose to N1.18 billion from N906.28 million.
Despite these pressures, gross profit elevated by 18.22% to N24.13 billion, with gross profit margin bettering marginally to 34.35% from 34.01%.
Operating bills
Marketing bills declined considerably by 50.87% to N1.30 billion from N2.64 billion, offering help to working profitability.
- However, administrative bills elevated by 18.33% to N5.78 billion from N4.89 billion.
- Employee prices elevated to N1.30 billion from N885.43 million, whereas different bills rose to N1.51 billion from N891.90 million.
Consequently, working profit elevated by 34.32% to N17.49 billion from N13.02 billion.
Finance prices remained a serious stress on profitability, rising by 32.99% to N8.84 billion from N6.65 billion.
- Bank curiosity accounted for N8.11 billion, whereas financial institution commissions and fees contributed N732.50 million.
- Finance prices absorbed 50.56% of working profit, limiting the quantity out there as pre-tax earnings.
Balance sheet
MeCure’s steadiness sheet expanded by 13.90% to N93.35 billion from N81.96 billion in December 2025, supported by elevated funding in property, plant and gear.
- Property, plant and gear elevated to N53.07 billion from N40.64 billion, reflecting N16.69 billion in additions in the course of the interval.
- Inventories elevated to N18.24 billion from N15.77 billion, whereas money and money equivalents declined to N4.32 billion from N6.48 billion.
Total fairness elevated to N24.59 billion from N19.82 billion, whereas interest-bearing debt stood at N59.51 billion.
Market response
MeCure Industries’ share value closed unchanged at N56.20 on 28 October 2026, the date its unaudited nine-month monetary statements have been accepted.
The inventory has recorded a year-to-date decline of 13.80% from its opening value of N65.20, regardless of the advance in nine-month profitability.
Month-to-date efficiency was flat at 0.00%, with the share value remaining unchanged all through the ten buying and selling periods proven.
