Nigeria's Academy Press posts 65% profit drop, cuts dividend to 10 kobo per share

Academy Press Plc reported a sharp decline in its 2026 financial performance. Pre‑tax profit fell 78.4% to N253.45 million and profit after tax dropped 65% to N253.3 million compared with the previous year. Revenue contracted by about 3.8% to N4.41 billion, while gross profit fell 8.7% and operating expenses rose, leading to weaker margins.

The board proposed a reduced final dividend of 10 kobo per share, down from 15 kobo the year before. The company also completed a one‑for‑five bonus share issue and announced a leadership change, appointing Oluwakemi Ogunnubi as managing director and CEO. Assets and inventories shrank significantly, and the share price fell from N7.30 to around N6.70.

These results reflect tighter inventory management, lower other operating income and increased administrative costs, signalling challenging operating conditions for the Nigerian printing and packaging firm.