Okomu Oil Palm Plc more than doubled its nine-month profit as higher palm oil prices and production volumes lifted revenue, offsetting cost pressures and macroeconomic headwinds in Nigeria.
Net income jumped 113 percent year-on-year to N60.33 billion in the first nine months of 2025, up from N28.34 billion a year earlier, the Benin City-based agribusiness said in a filing to the Nigerian Exchange. Pretax profit also surged 107 percent to N84.1 billion, driven by stronger turnover and improved operating efficiency.
Revenue rose 67 percent to N173.95 billion for the nine months through September 2025, compared with N103.95 billion a year earlier. The increase was fueled by robust demand for crude palm oil and rubber, alongside higher selling prices in both domestic and export markets.