Major Nigerian corporations report increased nine-month profits

Several major companies operating in Nigeria reported significant profit growth for the nine-month period ending September 30, 2026.

Guinness Nigeria Plc saw a 53.1% increase in profit after tax, reaching N40.69 billion, supported by a 20.4% rise in revenue to N403.33 billion and a substantial reduction in finance expenses. Similarly, Stanbic IBTC Holdings Plc reported a 33% increase in profit after tax to N370.36 billion, driven primarily by a 110% surge in non-interest revenue, although net interest income declined due to rising funding costs.

Unilever Nigeria Plc declared an interim dividend of N2 per share, totaling N11.5 billion, following a 20.1% increase in profit after tax to N26.40 billion. The company noted that revenue rose 18.4% to N184.01 billion despite constrained household disposable incomes.

TotalEnergies Marketing Nigeria Plc returned to profitability with a pre-tax profit of N8.02 billion, compared to a loss of N11.92 billion in the same period last year. While the company's nine-month performance improved, its standalone third-quarter pre-tax profit of N1.31 billion fell short of market forecasts.