University Press Plc has reported a profit after tax of N213.7 million for the financial year ended March 31, 2026.
The publishing company disclosed the result at its 48th Annual General Meeting held at the Kakanfo Inn and Conference Centre in Ibadan, Oyo State.
The company’s revenue increased by approximately 14 per cent, rising from N3.402 billion in the previous financial year to N3.895 billion in 2026. The company said growth was driven largely by demand for primary education titles, while its Northern Zone also recorded notable performance despite security challenges in parts of the region.
However, profit after tax declined from N450.6 million in 2025 to N213.7 million in the year under review. Profit before tax also fell from N619.7 million to N389.5 million, while earnings per share declined from 104.45 kobo to 49.53 kobo.
The company attributed the pressure on profitability to high energy and transport costs, elevated interest rates and security concerns, which increased operating expenses and weakened consumers’ purchasing power.
Marketing and distribution expenses rose to N775.7 million from N694.7 million, while administrative expenses remained relatively unchanged at about N1.134 billion as management sought to control overhead costs.
Chairman of the Board, Obafunso Ogunkeye, said the company would continue to improve production efficiency, strengthen inventory management, optimise its sales mix and adopt commercially appropriate pricing to manage rising costs.
The Managing Director and Chief Executive Officer, Samuel Kolawole, said the company remained largely debt-free and ended the financial year with cash and cash equivalents of approximately N950 million. Total equity also increased from N3.41 billion to about N3.54 billion.
The board has recommended a dividend of 18 kobo per ordinary share, compared with 15 kobo paid for the previous financial year, subject to shareholders’ approval.
University Press Plc, founded in 1949 as Oxford University Press Nigeria, publishes and distributes educational and general reading materials and is listed on the Nigerian Exchange.
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