Okomu Oil Palm Plc published its unaudited first quarter result for the period ended March  31, 2025, reporting a robust 44.1% year on year growth in profit after tax to N21.74 billion.

The impressive performance was driven by a 33.6% year on year increase in revenue, primarily due to higher Crude Palm Oil prices and solid growth in sales.

Key highlights of the financial results shows that revenue grew by 33.6% year on year, driven by higher sales volumes and prices.

Local sales revenue increased by 29.1% year on year, accounting for 87.3% of total revenue. Export sales revenue surged by 75.9% year on year, accounting for 12.7% of total revenue.

Market watchers expect Okomu Oil Palm Plc to remain resilient throughout the year, despite potential downward pressure on global Crude Palm Oil prices due to recovering production in Southeast Asia and weakening import demand.

Gross margin contracted by 292 basis points to 73.3%, due to heightened cost pressures.
Net finance cost fell by 54.3% year on year to N820.08 million, primarily due to a sharp decline in finance costs.

Profit before tax grew by 39.8% year on year to N32.20 billion, while profit after tax increased by 44.1% year on year to N21.74 billion.