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HBM Nigeria Plc has reported a strong financial performance for the first half of 2026, posting a profit before tax of ₦317.73 billion, representing a 59.08 percent year-on-year increase from ₦199.74 billion recorded in the corresponding period of 2025. Riding on the impressive earnings, the cement manufacturer also announced an interim dividend of ₦16 per ordinary share for shareholders.
The unaudited financial results for the six months ended June 30, 2026, reflect sustained revenue growth, stronger profitability and an expanded balance sheet as the company continues to benefit from robust demand and improved operational performance.
Second-Quarter Performance Extends Growth Momentum
HBM Nigeria maintained its earnings trajectory in the second quarter of the year, recording a pre-tax profit of ₦168.61 billion. The figure represents a 13.07 percent increase over the ₦149.12 billion posted in the first quarter of 2026 and a 33.16 percent rise compared to the ₦126.62 billion reported in the second quarter of 2025.
The latest performance underscores the company’s ability to sustain profitability despite prevailing macroeconomic challenges affecting the manufacturing sector.
Revenue and Profitability Strengthen
HBM Nigeria’s revenue climbed 31.23 percent to ₦678.41 billion, up from ₦516.98 billion in the same period last year.
The company also reported a gross profit of ₦421.82 billion, representing a 42.62 percent increase, while operating profit rose 51.32 percent to ₦290.94 billion.
After-tax earnings also improved significantly, with profit after tax increasing 57.03 percent to ₦208.35 billion, compared to ₦132.68 billion in the first half of 2025. Meanwhile, earnings per share (EPS) advanced 56.92 percent to ₦12.93, reflecting stronger returns to shareholders.
Balance Sheet Remains Resilient
The company’s balance sheet also recorded notable improvements during the review period.
Total assets increased by 8.09 percent to ₦1.306 trillion, compared to ₦1.208 trillion as of December 2025. Shareholders’ funds grew 16.10 percent to ₦805.70 billion, highlighting continued value creation and a stronger capital base.
However, cash and cash equivalents declined 14.80 percent to ₦330.64 billion, down from ₦388.07 billion at the end of 2025, reflecting increased operational and investment activities during the period.
Interim Dividend for Shareholders
In recognition of the strong half-year performance, the Board of Directors approved an interim dividend of ₦16 per ordinary share, subject to applicable withholding tax.
The company said the dividend will be paid electronically on August 17, 2026, to shareholders whose names appear in the register of members as of the close of business on August 12, 2026.
H1 2026 Financial Highlights
- Revenue: ₦678.41 billion (+31.23% YoY)
- Gross Profit: ₦421.82 billion (+42.62% YoY)
- Operating Profit: ₦290.94 billion (+51.32% YoY)
- Profit Before Tax: ₦317.73 billion (+59.08% YoY)
- Profit After Tax: ₦208.35 billion (+57.03% YoY)
- Earnings Per Share: ₦12.93 (+56.92% YoY)
- Total Assets: ₦1.306 trillion (+8.09%)
- Shareholders’ Funds: ₦805.70 billion (+16.10%)
- Interim Dividend: ₦16 per ordinary share
Outlook
HBM Nigeria’s half-year results reinforce the company’s strong operational momentum and healthy financial position. With rising revenues, expanding margins and a strengthened capital base, the company appears well positioned to sustain growth in the second half of the year.
The interim dividend announcement is also expected to boost investor confidence as shareholders look forward to continued earnings growth and value creation amid ongoing infrastructure and construction activities across Nigeria.
