By Naija247news
Thank you for reading this post, don't forget to subscribe!Lagos, Jan. 28, 2025 – Aradel Holdings Plc posted a remarkable 348.54% surge in profit after tax (PAT) for the 2024 financial year, rising to N247.79 billion from N55.24 billion in 2023, driven by a sharp increase in revenue and improved operational efficiency.
The company’s revenue soared 162.74% to N581.02 billion in 2024 from N221.14 billion in the previous year. Despite a 231.45% jump in the cost of sales to N261.21 billion, Aradel’s gross profit rose by 124.69% to N319.81 billion, reflecting a solid performance.
Strong Profitability and Margins
Aradel’s operating profit stood at N297.72 billion, marking a 161.17% increase from N113.99 billion in 2023. Its net profit margin improved significantly to 42.6% from 25.0%, demonstrating improved cost management and revenue growth.
Other income surged 498.09% to N31.75 billion, while finance income grew 141.44% to N15.96 billion. However, finance costs increased by 125.36% to N23.03 billion, leading to a 95.92% rise in net finance costs.
Earnings per share (EPS) jumped 361.03% to N57.03 from N12.37 in 2023, reflecting the company’s robust earnings performance.
Balance Sheet Growth and Asset Expansion
Aradel Holdings recorded an 88.96% rise in total assets, reaching N1.74 trillion from N923.43 billion in 2023. Notably, cash and cash equivalents surged 116.94% to N422.21 billion, while investment in associates grew 81.15% to N489.53 billion. Property, plant, and equipment also expanded by 78.11% to N682.93 billion.
Total liabilities increased by 60.91% to N352.05 billion, while total shareholders’ equity nearly doubled, rising 97.67% to N1.39 trillion, reinforcing the company’s financial strength.
Stock Performance and Market Metrics
Aradel’s share price stood at N540.00, with a 52-week high of N850.10 and a low of N401.10. The company’s market capitalization reached N2.35 trillion, with a price-to-earnings (P/E) ratio of 9.47x and an earnings yield of 10.56%.
Despite the impressive financial performance, no interim dividend was announced, and corporate actions such as AGM and qualification dates remain undisclosed.
Aradel Holdings’ strong financial results highlight its ability to capitalize on market opportunities and sustain growth momentum in a challenging economic environment.
