Vitafoam profit surges, execs boast as skeptics doubt

Vitafoam Nigeria recorded a 1,407 percent jump in after-tax earnings during its most recent fiscal period after the foam producer overcame currency volatility challenges. The manufacturer posted 14.3 billion naira in net income for the 12 months ending on September 30, 2025, compared with 952 million naira one year earlier, according to audited financial statements. Pretax profit surged 1,751 percent to reach 21.2 billion naira from 1.1 billion naira, while earnings per share climbed to 10.67 naira from 29 kobo.

The group managing director stated the results reflect dedication to operational excellence and cost controls that create lasting investor value. He expressed satisfaction with operating profit expansion and efficiency gains that validate strategic priorities centered on financial discipline and brand development. The executive said ongoing investments in efficiency measures, product development and renewable energy systems will support continued expansion.

The company distributed 1.31 billion naira in cash returns during 2024 at 1.05 naira per share. Revenue during that period advanced 56 percent to 82.6 billion naira from 52.9 billion naira, though foreign exchange losses tempered the impact of sales growth.

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