Vitafoam Nigeria Plc has delivered its strongest financial performance on record, underlining the scale of its recovery and growth in a challenging operating environment.

The foam and mattress maker, partly owned by Nigerian industrialist Samuel Bolarinde, posted a profit after tax of N14.54 billion ($10.16 million) for its 2025 financial year, driven by higher sales volumes, improved pricing and a sharp drop in foreign exchange losses.

Revenue climbed to N111.38 billion as demand for core products such as foams, mattresses and pillows strengthened across Nigeria and regional markets.

A more stable naira also helped cut currency-related losses significantly, lifting overall earnings. Growth outside Nigeria, supported by operations in Sierra Leone and exports to neighboring countries, added to the strong performance.

The robust results boosted Vitafoam’s balance sheet and enabled the board to declare a final dividend, reinforcing investor confidence in the company’s outlook.