Morison Industries reports widening H1 2026 loss despite revenue growth

Morison Industries Plc reported a loss before taxation of ₦10.28 million for the six-month period ending June 30, 2026. This represents a widening loss compared to the ₦4.33 million loss recorded during the same period in 2025.

Despite the net loss, the company saw a 21.4% increase in total revenue, rising to ₦274.08 million from ₦225.73 million in the previous year. However, rising costs impacted profitability. The cost of sales increased by 25.4% to ₦177.79 million, which reduced the gross profit margin from 37% in H1 2025 to 35% in H1 2026.

Operating expenses also rose, with distribution expenses increasing by 100.8% to ₦42.92 million. Consequently, the company moved from an operating profit of ₦5.42 million in H1 2025 to an operating loss of ₦3.52 million in H1 2026. The LMP-Consumers segment remained the primary revenue driver, contributing ₦250.86 million.