Meyer Plc has delivered a strong performance in the first quarter of 2025, posting a profit before tax of N250.5 million, a nine-fold rise from N28 million in the same period last year.
Net profit stood at N166.5 million, a nearly ninefold increase, as the company continues to gain traction with its ongoing transformation strategy.
According to the company’s unaudited Q1 financial results, revenue rose to N1.09 billion, up from N629.7 million in Q1 2024, representing a year-on-year growth of 98.7 percent. Gross profit more than doubled to N415.8 million, with a margin of 38 percent.