University Press Plc, a leading educational publisher in Nigeria, has reported a 14.5% increase in revenue to N3.895 billion for the financial year ended March 31, 2026. This growth was achieved despite rising production, energy, transportation, and financing costs. The company's revenue growth was attributed to sustained demand for educational materials, particularly primary education titles.
The company's profit before tax, however, declined to N389.5 million from N619.7 million recorded in the previous year. Profit after tax also decreased to N213.7 million from N450.6 million. The decline in profit was largely attributed to higher operating costs and the absence of exceptional income recorded in the preceding year.
Cost of sales rose from N1.45 billion to N1.76 billion during the year, driven by increases in materials, printing, production, and logistics expenses. Consequently, gross profit increased from N1.96 billion to N2.13 billion, although the gross profit margin narrowed from 58% to about 55%.
Marketing and distribution expenses also rose to N775.7 million from N694.7 million, reflecting higher transportation and sales costs as the company expanded its market coverage. Profit from operations fell to N338.2 million from N541.3 million in the preceding year.
The Chairman of University Press, Obafunso Ogunkeye, said the performance demonstrated the resilience of the company’s core business despite a difficult operating environment. He noted that inflation, high energy and transport costs, elevated interest rates, and insecurity had increased operating costs while weakening the purchasing power of consumers and institutions.
Managing Director/Chief Executive Officer, Samuel Kolawole, said the results highlighted the need for the company to convert revenue growth more effectively into profitability. He stated that the company’s strategy for the 2026/27 financial year would focus on strengthening its core publishing business, improving operational efficiency, and developing new channels through which learners and institutions could access its content.
The company's 48th annual general meeting provided stakeholders with an update on its financial performance and strategic plans. University Press Plc has maintained its position as a leading provider of educational materials in Nigeria, with a focus on adapting to changing market conditions and evolving consumer needs.
Key points
- University Press Plc reports 14.5% revenue growth to N3.895 billion for the year ended March 31, 2026.
- Profit before tax declines to N389.5 million from N619.7 million in the previous year.
- The company plans to focus on strengthening its core publishing business and improving operational efficiency in the 2026/27 financial year.
