NIGERIA: Vitafoam Nigeria PLC released its full year Audited Financial Statements for the year ended September 30, 2025 some days ago after the close of trading last week, and it has got investors talking.
What Does Vitafoam Do?
Vitafoam Nigeria PLC is Nigeria's foremost manufacturer of flexible, reconstituted, and rigid foam products, with the largest foam manufacturing and distribution network in the country, ensuring efficient and just-in-time delivery of high quality products across Nigeria and West Africa sub-region. It operates manufacturing facilities in Aba, Ikeja, Jos, and Kano, supported by an extensive network of distributors, comfort centers, and retail outlets nationwide.
Key Highlights of Vitafoam's 2025 Audited Result
From the audited results, Revenue grew by 35% from previous year to close at ₦111bn, as Profit before tax increased by 1,775% to close at ₦21bn and Profit after tax increased by 1,427% to close at ₦14.5bn. Earnings per share closed at ₦10.80 (₦0.29 previous year), Declared dividend also increased from ₦1.05 in the previous year to ₦3 per ordinary share this year, with additional bonus shares, while Net asset per share closed at ₦24 (₦17 previous year). Return on Equity, Return on Invested Capital, Return on Capital Employed all printed way above 40%, while Return on Asset closed above 20%.
Dividend and Bonus Shares Proposed
In addition to the results released, the company announced a notice of Annual General Meeting where it will be proposing to shareholders for approval a dividend per share of ₦3 for the year ended 30th of September 2025, and a bonus of 1 new ordinary share for every 5 existing ordinary shares held. In view of the bonus share distribution they are proposing to increase their share capital from ₦625,422,531 divided into 1,250,844,064 ordinary shares to ₦750,506,438 divided into 1,501,012,876 ordinary shares by the creation of additional 250m ordinary shares, which will be distributed to existing shareholders as bonus shares, ranking pari pasu with existing ordinary shares. Qualification date for both the dividend and bonus share distribution is February 6, 2026. while dividend payment will be made on March 5, 2026.
How Has Vitafoam Sustained Growth?
Vitafoam has been able to sustain consistent revenue growth over the years through a well thought out expansion of the group, its distribution network, and the sectors that it serves. The Vitafoam group comprises of Vitafoam Nigeria PLC and its subsidiaries- Vitapur Nigeria Limited, Vitablom Nigeria Limited, Vitavisco Nigeria Limited, Vitafoam Sierra Leone Limited, Vono Furniture Products Limited and Vita parts Nigeria Limited, and is specialised in the manufacturing, marketing, and distribution of flexible and rigid foam products (including insulation solutions), fibre and textile-based items, furniture, and automotive components (including vehicle oil filters) across Nigeria and the West African sub-region. Through their integrated operations they are able to serve diverse sectors- real estate, construction, healthcare, hospitality, agriculture, food processing, oil and gas, automotive, and general consumer markets. Through the company's expansion into Sierra Leone it is able to deliver high quality local production and successful exports to Guinea and Liberia. Beyond commercial activities, the company also collaborates with humanitarian agencies to supply quality mattresses for national welfare and relief programmes.
Annual General Meeting Notice
The Company has scheduled its 64th Annual General Meeting for 5th of March, 2026 at NECA House, Hakeem Balogun street, Central Business District, Alausa, Ikeja, Lagos state, Nigeria by 10am Local Time.
Share Price Performance and Market Reaction
Vitafoam's share price has ranged from circa ₦22 to ₦94.60 in the past 52 weeks. It will be interesting to see how the market reacts in the coming weeks to the audited result, dividend and bonus shares declared.
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