Japaul Gold & Ventures Plc, the Oil and Gas giant, recorded an 11 percent decline in profit for the 2025 financial year as surging administrative and finance costs outweighed stronger revenue growth.
According to the company’s audited financials for the year ended December 31, 2025, revenue rose 28 percent to N5.25 billion from N4.10 billion in 2024. It is the highest turnover Japaul has posted in at least five years, and it is largely driven by the “Equipment rental” which accounts for 98 percent of the total turnover for the company.
This feat also continues a run of top-line growth stretching back to 2021, when the company’s revenue was ₦434 million.
But the growth did not translate to Net profit, which moved in the opposite direction. Operating profit dipped to N1.42 billion from N1.50 billion in 2024, while net profit fell 11 percent to N1.22 billion from N1.38 billion, even though gross profit actually improved, rising to N2.98 billion from N2.14 billion, and gross margin widened to 57 percent from 52 percent.
In other words, Japaul is making more money on every naira of sales than it did a year ago, and it is also losing that gain.
