Nigeria’s leading vegetable oil processing company, Okomu Oil Palm Plc, has announced its financial projections for the second quarter of 2026 (Q2 2026), projecting a turnover of N51.54 billion and a Profit After Tax (PAT) of N11.97 billion, news.ng reports.
In a statement made available on the Nigerian Exchange Group (NGX) website on Thursday, the oil palm processing company is expected to generate revenue of N51.5 billion for Q2 2026, banking on continued demand as well as improved operational performance this year.
The projections were endorsed by the company’s management, with Chief Accountant Felix Odighizuwa (FCA) signing on behalf of the finance team, alongside Managing Director Dr Graham Hefer.
According to the financial projections, a total of N34.05 billion is projected to cover the cost of sales and general and administrative expenses. The company also projected a Profit Before Taxation of N17.48 billion.
Also, the company expects a tax charge of N5.5 billion, resulting in a Profit After Tax of N11.97 billion for Q2 2026, the same figure expected as the net result.
On the other hand, the company projected a cash flow of N6.85 billion, while working capital was negative at N16.71 billion, resulting in a net cash outflow of N9.85 billion from operating activities.
Under financing activities, the company has projected N35.65 billion, while funds for investment are estimated at N4.9 million. These will ultimately push net cash and cash equivalents down by N34.43 billion in the second quarter of 2026.
As the 2026 operational year begins, the company disclosed that cash and bank balances stand at N50.68 billion, and the quarter is expected to close with N12.24 billion in cash and bank balances.
