Nigerian executive Fola Aiyesimoju, group managing director of UAC of Nigeria PLC, steered the Lagos-based conglomerate to a fourfold profit surge through September. The performance was anchored by the consolidation of beverage producer CHI Limited, wider gross margins, and higher net finance income that softened the impact of debt service charges.

The consumer goods giant reported net income of N21.91 billion ($16.3 million) for the nine months ended Sept. 30, up from N5.38 billion ($3.99 million) a year earlier. Pretax profit jumped nearly fourfold to N37.69 billion ($27.97 million) from N10.4 billion ($7.72 million).

Nine-month revenue hits $388 million

Revenue climbed to N522.99 billion ($388.14 million) through September from N159.58 billion ($118.43 million) a year earlier. Pretax profit jumped to N37.69 billion ($27.97 million) from N10.40 billion ($7.72 million). The bottom-line surge lifted basic earnings per share to 722 kobo ($0.054) from 179 kobo ($0.013) in 2025.

Input inflation pushed production costs up to N380.45 billion ($282.35 million) from N120.21 billion ($89.21 million). Even so, gross profit expanded to N142.55 billion ($105.79 million) from N39.37 billion ($29.22 million). Higher net finance income and cash generation cushioned the group against steep interest expenses across the business.

Big bet on beverages pays

The packaged food and beverage division served as the primary growth engine, lifted by the absorption of juice and dairy producer CHI. Segment sales jumped to N436.07 billion ($323.63 million) from N56.70 billion ($42.08 million). That surge cushioned a retreat in edibles and animal feeds, which slid to N51.3 billion.

Paints generated steady volume growth, lifting segment revenue to N33.67 billion ($25 million) from N30.27 billion ($22.46 million). Quick-service restaurants generated N1.84 billion ($1.37 million), dipping from N1.9 billion ($1.41 million). Overall operations remained centered at home, with domestic sales providing N521.36 billion of total revenue across the federation.

Regional trade opened a fresh revenue lane for the group during the period. UAC generated N1.64 billion ($1.22 million) from cross-border shipments, compared with zero export revenue recorded a year earlier. Management used the offshore cash to expand regional trade channels and build export volume across nearby West African markets.

Trimming down to scale up

Aiyesimoju, who controls a 25.39 percent combined stake personally and through Themis Capital Management, is aggressively carving out non-core businesses. The conglomerate agreed to divest its 73.29 percent holding in Livestock Feeds Plc and its 43 percent stake in DP World Logistics Ltd. Both units are now classified as assets held for sale.

Disposals and debt clearance shifted the group balance sheet. Total assets declined to N516.89 billion ($383.61 million) from N597.06 billion ($443.1 million) at the end of December. Meanwhile, retained earnings strengthened to N50.92 billion ($37.8 million), expanding total equity to N70.85 billion ($52.6 million) through the third quarter.