Academy Press Plc will pay shareholders a dividend of 10 kobo per share, amounting to about N90.7 million, despite reporting a sharp 64.6 percent decline in annual profit due to weaker revenue and a steep fall in other operating income.
The Nigerian printing and packaging company proposed the final dividend for the financial year ended March 31, 2026, down from 15 kobo per share paid in the previous year, reflecting the weaker earnings recorded during the period. The proposed payout is subject to shareholder approval at the company’s forthcoming annual general meeting.
Academy Press reported a group profit after tax of N253.3 million, compared with N716.5 million a year earlier, while profit before tax declined to N253.4 million from N1.17 billion in 2025.
The weaker earnings came as revenue slipped by 3.8 percent to N4.41 billion from N4.59 billion, while gross profit fell 8.7 percent to N1.26 billion from N1.38 billion.
The biggest drag on profitability was a sharp decline in other operating income, which dropped by nearly 65 percent to N352 million from N997 million in the previous year. Administrative expenses also increased to N882.7 million from N810.2 million, while selling and distribution costs rose to N356.9 million from N268.7 million, further squeezing margins.
