Ikeja Hotel Plc has reported a profit after tax of ₦2.31 billion for the full year ended December 31, 2025, representing a 32% increase from ₦1.75 billion recorded in the corresponding period of 2024, news.ng reports.
The statements were signed by the Managing Director/CEO, Mr Theophilus E. Netufo, and the Financial Controller, Mr Zacchaeus O. Adeyemo, on January 23, 2026.
The hospitality company’s revenue jumped 46% to ₦29.04 billion, compared to ₦19.87 billion in the previous year, according to its unaudited consolidated financial statements released to the Nigerian Exchange Limited (NGX) on Monday.
Gross profit for the period stood at ₦3.71 billion, up from ₦2.77 billion in 2024, while operating profit surged to ₦3.04 billion from ₦1.93 billion, reflecting improved operational efficiency.
The company’s profit before tax rose to ₦4.13 billion in 2025, compared to ₦2.24 billion in the prior year, representing an 84% increase.
Total assets expanded to ₦94.88 billion as of December 31, 2025, up from ₦83.67 billion in December 2024. The balance sheet showed property, plant and equipment valued at ₦23.00 billion, while cash and cash equivalents stood at ₦33.15 billion.
Trade receivables increased significantly to ₦2.10 billion from ₦1.83 billion, while total current assets rose to ₦71.15 billion from ₦60.68 billion year-on-year.
Shareholders’ equity attributable to equity holders of the parent company grew to ₦38.52 billion from ₦30.59 billion, representing a 26% increase.
The company’s basic earnings per share improved to 409 kobo from 311 kobo in the comparative period.
However, the financial statements included a notable disclosure stating that adjustments from Securities and Exchange Commission directives on shareholder matters currently under forensic examination have not been incorporated, which could impact the final audited results.
Total liabilities stood at ₦56.38 billion, up from ₦53.12 billion in 2024, with current liabilities accounting for ₦40.63 billion.
