Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
MeCure Industries
On this page
Company details
- Legal name
- MeCure Industries Plc
- Listing
- MECURE on the Nigerian Exchange, active · ISIN NGMECURE0006 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, final status not established · source
Read with these figures
- Annual report not confirmed as final. The published copy is not confirmed as the final version. The FY2025 figures come from it.
Full wording and sources
Annual report for 2025: final status not established
Independent auditor's report of Olatunji Cole & Co. to the shareholders of Mecure Industries Plc (opinion PDF p11, unmodified) closes on PDF p13 with a handwritten 'Olatunji Cole & Co.' signature above 'FRC/2014/ICAN/00000009093, For: Olatunji Cole & Co. (Chartered Accountants) Lagos, Nigeria' and the ICAN seal (page image), but NO DATE is printed on the audit report (pp11-13). The separate ICFR attestation report by the same firm (p15) states 'we expressed an unmodified opinion in our Auditor's report dated 27 February 2026'. The statements were approved by the board on 26 February 2026 and signed by Samir Udani (Chairman) and Mrs. Dukor Anderline Ndidi (Co-CEO), handwritten signatures visible (PDF p17, page image).
Source: MeCure Industries Plc Annual report and financial statements for the year ended 31 December 2025 (dated 2026-02-26)
-
Revenue
NGN 77.7 billion
77,693,465 NGN thousands · p16
+68.8% vs 2024
-
Operating profit / (loss)
NGN 16.4 billion
16,425,283 NGN thousands · p16
+98.3% vs 2024
-
Profit / (loss) for the year
NGN 6.46 billion
6,462,593 NGN thousands · p16
+177.5% vs 2024
-
Total assets
NGN 82.0 billion
81,958,073 NGN thousands · p17
+49.5% vs 2024
-
Total equity
NGN 19.8 billion
19,821,600 NGN thousands · p17
+42.0% vs 2024
-
Cash from operations
−NGN 2.43 billion
(2,430,102) NGN thousands · p19
−158.9% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, final status not established; reported for the year · source
- FY2024 — annual report, final status not established; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue | 77,693,465 | 46,026,565 |
| Cost of sales | (51,185,601) | (31,242,430) |
| Gross profit | 26,507,864 | 14,784,135 |
| Marketing expenses1 | (4,541,474) | (2,405,978) |
| Administrative expenses | (5,708,177) | (4,322,519) |
| Other income | 167,070 | 225,727 |
| Operating Profit | 16,425,283 | 8,281,366 |
| Profit before Interest and tax2 | 16,425,283 | 8,281,366 |
| Finance cost | (8,492,773) | (4,978,564) |
| Profit Before Tax | 7,932,510 | 3,302,801 |
| Income tax | (1,469,918) | (974,126) |
| Profit for the year | 6,462,593 | 2,328,675 |
| Other comprehensive income for the year | –3 | –3 |
| Profit for the year4 | 6,462,593 | 2,328,675 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (3)
- “Marketing expenses” is an issuer-specific line, not mapped to a shared definition: Marketing expenses (note 6), printed apart from administrative expenses.
- “Profit before Interest and tax” is an issuer-specific line, not mapped to a shared definition: Memorandum line printed after operating profit, at the same amount.
- “Profit for the year”: mapping to a shared definition is uncertain. Second printing of 'Profit for the year' on p16, closing the statement after other comprehensive income (nil): the total comprehensive income line, labelled as printed.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 40,644,875 | 36,279,345 |
| Intangible assets | –1 | –1 |
| Total non-current assets | 40,644,875 | 36,279,345 |
| Inventories | 15,771,851 | 9,891,188 |
| Trade and other receivables | 19,061,660 | 8,268,983 |
| Cash and cash equivalents | 6,479,687 | 398,371 |
| Total current assets | 41,313,198 | 18,558,542 |
| Total assets | 81,958,073 | 54,837,886 |
| Working Capital Loan2 | 12,874,154 | 5,101,612 |
| Term Loan3 | 14,686,766 | 21,105,539 |
| Deferred tax liabilities | 1,855,253 | 1,598,590 |
| Non-current liabilities (unlabelled subtotal) | 29,416,173 | 27,805,741 |
| Trade and other payables | 2,294,558 | 1,087,685 |
| Commercial Paper4 | 26,034,191 | 9,951,618 |
| Bank Overdraft | 1,737,845 | 9,425 |
| Current tax liabilities | 2,653,705 | 2,024,409 |
| Total current liabilities | 32,720,299 | 13,073,137 |
| Total liabilities | 62,136,473 | 40,878,879 |
| Share capital | 2,000,000 | 2,000,000 |
| Retained profit | 17,821,600 | 11,959,007 |
| Total equity | 19,821,600 | 13,959,007 |
| Total equity and liabilities | 81,958,073 | 54,837,886 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
Notes and alternative reported figures (3)
- “Working Capital Loan” is an issuer-specific line, not mapped to a shared definition: Non-current working capital loan (note 20), printed apart from the term loan.
- “Term Loan”: mapping to a shared definition is uncertain. Term loan only; a working capital loan is printed separately as a non-current line.
- “Commercial Paper”: mapping to a shared definition is uncertain. Commercial paper issued (note reference printed '16', the same as inventories); the bank overdraft is printed separately.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash used in operations | (1,846,145) | 4,395,966 |
| Tax paid | (583,958) | (269,886) |
| Net cash used in operating activities | (2,430,102) | 4,126,080 |
| Purchase of property, plant and equipment | (10,053,346) | (14,291,627) |
| Net cash used in investing activities | (10,053,346) | (14,291,627) |
| Loan1 | 17,436,342 | 10,490,958 |
| Bank Overdraft2 | 1,728,419 | (34,098) |
| Dividend paid | (600,000) | (600,000) |
| Capital contribution (capitalization)3 | –4 | –4 |
| Net cash generated from financing activities | 18,564,761 | 9,856,860 |
| Net (decrease)/increase in cash and cash equivalents | 6,081,317 | (308,688) |
| Cash and cash equivalents at the beginning of the year | 398,371 | 707,060 |
| Cash and cash equivalents at the end of the year | 6,479,687 | 398,371 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (3)
- “Loan” is an issuer-specific line, not mapped to a shared definition: Financing activities: net loan movement as printed.
- “Bank Overdraft” is an issuer-specific line, not mapped to a shared definition: Financing activities: bank overdraft movement as printed.
- “Capital contribution (capitalization)” is an issuer-specific line, not mapped to a shared definition: Financing activities; printed '-' in both years.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend paid |
(600,000) | NGN thousands | Annual report, p19 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid |
(600,000) | NGN thousands | Annual report, p19 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
MeCure Industries Plc Annual report and financial statements for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · final status not established
Audit: Olatunji Cole & Co. (Chartered Accountants), Lagos, unmodified opinion · signed
Auditor's sign-off: Olatunji Cole & Co. (FRC/2014/ICAN/00000009093); no partner name printed
Final status: Independent auditor's report of Olatunji Cole & Co. to the shareholders of Mecure Industries Plc (opinion PDF p11, unmodified) closes on PDF p13 with a handwritten 'Olatunji Cole & Co.' signature above 'FRC/2014/ICAN/00000009093, For: Olatunji Cole & Co. (Chartered Accountants) Lagos, Nigeria' and the ICAN seal (page image), but NO DATE is printed on the audit report (pp11-13). The separate ICFR attestation report by the same firm (p15) states 'we expressed an unmodified opinion in our Auditor's report dated 27 February 2026'. The statements were approved by the board on 26 February 2026 and signed by Samir Udani (Chairman) and Mrs. Dukor Anderline Ndidi (Co-CEO), handwritten signatures visible (PDF p17, page image).
- Document date
- 26 Feb 2026
- Published
- 27 Feb 2026
- Auditor's report
- date not found in this document
- Board approval
- 26 Feb 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · NGN thousands (printed “N'000”)
- 2025 cash flow (p19): operating (2,430,102), investing (10,053,346) and financing 18,564,761 sum to 6,081,313, but 'Net (decrease)/increase in cash and cash equivalents' is printed 6,081,317 (4 more), which agrees with opening 398,371 and closing 6,479,687. Checked on the page image; kept as printed (check cf.net_change_in_cash fails by 4).
- Cash flow (p19): 'Cash used in operations' and 'Net cash used in operating activities' print a positive 2024 figure (4,395,966; 4,126,080) under the 'used' label; kept as printed.
- Note references printed on p17: 'Commercial Paper' carries note 16 (the inventories note) and 'Share capital' carries note 18 (the cash note); kept as printed. The non-current liabilities subtotal is unlabelled.
- Statement of profit or loss (p16) prints 'Profit for the year' twice: before and after 'Other comprehensive income for the year' (printed '-'); the second printing is recorded as total comprehensive income. 'Profit before Interest and tax' is printed after 'Operating Profit' at the same amount and kept as a memorandum line.
- The audit report printed in the document carries no date (pp11-13); the date 27 February 2026 is stated only in the auditor's ICFR attestation report (p15). Recorded as audit_report_dated_on None (not located on the report).
Technical details
- File
- 43 pages, with a text layer
- SHA-256
4b57dfaaeb3b0bd1e75758cacb0cbf1070ab8a1490044e19dd85d2cdb9fbb23a- Entity as printed
- MeCure Industries Plc (the Company); RC 619125
- Exchange copy
- retrieved 2026-10-08T18:02:45Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
Download
Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.