UNIVERSITY PRESS REVENUE RISES TO N3.9BN

University Press Plc recorded a 14 per cent increase in revenue to N3.895bn for the financial year ended March 31, 2026, compared with N3.402bn recorded in the previous year.

The company disclosed this at its 48th Annual General Meeting in Ibadan, where its chairman, Obafunso Ogunkeye, presented the financial performance for the year.

Ogunkeye said the revenue growth was broad-based, with strong demand for primary education titles. He added that the Northern region also performed well despite security challenges in some areas.

Despite the increase in revenue, profit after tax declined to N213.7m from N450.6m in the previous year. Profit before tax also fell to N389.5m from N619.7m.

The company attributed the pressure on profitability partly to higher operating costs. Marketing and distribution expenses increased to N775.7m from N694.7m due to higher transport and sales costs and expanded market coverage.

Managing Director and Chief Executive Officer, Samuel Kolawole, said the company remained largely debt-free and ended the year with about N950m in cash and cash equivalents.

He said management would continue to improve production efficiency, strengthen inventory control, optimise its product mix and create new revenue opportunities.

University Press said it would also continue focusing on the quality, relevance and availability of its educational and general publications.