University Press Plc has bounced back to profit, posting N619.7 million before tax in the 2024/2025 financial year. This is a sharp turnaround from the N222.2 million loss recorded the previous year.
The company’s chairman, Obafunso Ogunkeye, announced the result at the 47th Annual General Meeting in Ibadan. He stated that the publishing firm overcame harsh national and global economic conditions to deliver strong growth across all key performance indicators.
After tax, the company reported a net profit of N450.6 million, compared to a net loss of N157.7 million in 2023/2024. The board has now recommended a dividend payout of 15 kobo for every 50 kobo share.
The positive results mark a significant turnaround for the publishing firm. The company had struggled with heavy losses in recent years, causing many people to write it off. Shareholders welcomed the new development, saying the dividend recommendation reflects renewed confidence in the firm’s future.
This rebound places University Press back on a growth path in Nigeria’s publishing industry.
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