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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 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

Meyer

MEYER · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Meyer Plc
Listing
MEYER on the Nigerian Exchange, active · ISIN NGMEYER00006 (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 · audited financial statements, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. Other matters: 'The consolidated and separate financial statement of 31 December 2024 was audited by another auditor who expressed an unmodified audit opinion on 27 March 2025' (PDF p15).
Full wording and sources

  • Auditor's emphasis of matter

    Other matters: 'The consolidated and separate financial statement of 31 December 2024 was audited by another auditor who expressed an unmodified audit opinion on 27 March 2025' (PDF p15). Key audit matters: revenue recognition and impairment of trade and other receivables (p14).

    Source: Meyer Plc Consolidated and Separate Financial Statements for the year ended 31 December 2025 (dated 2026-03-24)

  • Revenue

    NGN 4.23 billion

    4,234,251 NGN thousands · p17

    +35.5% vs 2024

  • Operating profit / (loss)

    NGN 328 million

    327,738 NGN thousands · p17

    +57.1% vs 2024

  • Profit / (loss) for the year

    NGN 461 million

    461,032 NGN thousands · p17

    +56.1% vs 2024

  • Total assets

    NGN 3.42 billion

    3,416,585 NGN thousands · p18

    +20.3% vs 2024

  • Total equity

    NGN 2.14 billion

    2,140,778 NGN thousands · p18

    +17.0% vs 2024

  • Cash from operations

    NGN 426 million

    426,440 NGN thousands · p20

    +1291.1% 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 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Revenue 4,234,251 3,123,957
Cost of sales (2,719,390) (2,083,089)
Gross profit 1,514,861 1,040,868
Other operating income 16,266 76,782
Selling and distribution expenses (440,422) (332,356)
Administrative expenses (762,968) (576,652)
Profit from operating activities 327,738 208,642
Finance income 345,300 251,508
Finance costs (171) (2,548)
Net finance income1 345,128 248,960
Profit before taxation 672,866 457,602
Tax expense (211,834) (162,200)
Profit for the year 461,032 295,402
Other comprehensive income for the year, net of tax –2 –2
Total comprehensive profit for the year 461,032 295,402
Non-controlling interest3 (4) (4)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (2)
  1. “Net finance income” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: finance income less finance costs.
  2. “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Profit for the year attributable to the non-controlling interest, as printed under 'Profit for the year attributable to:'.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Property, plant and equipment 336,989 330,219
Right of use 77,625 2,750
Intangible assets 16,445 18,553
Investment in subsidiary1 –2 –2
Total non-current assets 431,059 351,522
Inventories 521,954 379,392
Trade and other receivables 412,571 533,154
Cash and cash equivalents 2,051,002 1,576,334
Total current assets 2,985,527 2,488,880
Total assets 3,416,585 2,840,402
Short term borrowings 1,813 5,779
Trade and other payables 1,017,828 816,459
Current tax liabilities 215,719 141,819
Total current liabilities 1,235,361 964,057
Net Current Assets3 1,750,166 1,524,823
Total assets less current liabilities4 2,181,226 1,876,345
Borrowings –5 –5
Dismantlement and restoration6 15,143 15,143
Employment benefits7 7,615 7,843
Deferred tax liabilities 17,689 22,888
Non-current liabilities (unlabelled subtotal) 40,446 45,874
Net Assets8 2,140,778 1,830,471
Share capital 248,864 248,864
Share premium account 53,173 53,173
Revenue reserve 1,837,686 1,525,986
Equity attributable to owners (unlabelled subtotal) 2,139,723 1,828,023
Non-controlling interest 1,056 2,448
Total Equity 2,140,778 1,830,471
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (6)
  1. “Investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Printed '-' in the group and company columns (note 20).
  2. “Net Current Assets” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: total current assets less total current liabilities.
  3. “Total assets less current liabilities” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  4. “Dismantlement and restoration” is an issuer-specific line, not mapped to a shared definition: Non-current provision for dismantlement and restoration (note 27).
  5. “Employment benefits” is an issuer-specific line, not mapped to a shared definition: Non-current employee benefit obligation (note 25).
  6. “Net Assets” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: total assets less all liabilities (equals total equity).

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Cash generated from operations (unlabelled subtotal) 569,573 147,610
Income taxes paid (143,133) (116,955)
Net cash generated by operating activities 426,440 30,655
Additions to Property, Plant and equipment (37,985) (33,377)
Additions to intangible assets (2,117) (19,878)
Addition to Right of Use of assets1 (103,500) (16,500)
Proceeds from disposal of property, plant and equipment –2 12,700
Finance income3 345,300 251,508
Net cash generated by investing activities 201,698 194,453
Long term loan repaid (3,967) (12,551)
Borrowing4 –5 (5,779)
Dividend paid (149,331) (149,350)
Finance charges6 (171) (2,548)
Net cash generated by financing activities (153,469) (170,228)
Net cash and cash equivalents for the year 474,669 54,880
Cash and cash equivalents at beginning of the year 1,576,334 1,521,454
Cash and cash equivalents at end of the year 2,051,002 1,576,334
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (4)
  1. “Addition to Right of Use of assets” is an issuer-specific line, not mapped to a shared definition: Investing activities: additions to right-of-use assets.
  2. “Finance income”: mapping to a shared definition is uncertain. Second printing on p20: finance income received, presented in investing activities (the first is the operating adjustment).
  3. “Borrowing” is an issuer-specific line, not mapped to a shared definition: Financing activities: borrowing movement as printed (2024 an outflow; 2025 '-').
  4. “Finance charges” is an issuer-specific line, not mapped to a shared definition: Financing activities: finance charges paid (note 14.2).

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Earnings / (loss) per share (per share)3 0.931 0.592
Profit / (loss) attributable to shareholders (NGN thousands)4 461,032 295,402
  1. Printed as 93 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 59 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Basic earnings per share (kobo)”.
  2. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

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.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid (149,331) NGN thousands Audited financial statements, p20
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (149,350) NGN thousands Audited financial statements, p20

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.

  • Meyer Plc Consolidated and Separate Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: PKF Professional Services (Chartered Accountants), Lagos, unmodified opinion · signed

    Auditor's sign-off: Benson O. Adejayan, FCA, for PKF Professional Services

    Final status: Independent auditor's report of PKF Professional Services to the shareholders of Meyer Plc (opinion PDF p13, unmodified) closes on PDF p16 (an image page without text layer) with a handwritten signature above 'Benson O. Adejayan, FCA, FRC/2013/PRO/ICAN/004/00000002226, For: PKF Professional Services, FRC/2023/COY/141906, Chartered Accountants, Lagos, Nigeria, Dated: 24 March 2026' and the ICAN seal (page image). The statements were approved by the Board on 24 March 2026 and signed by Mr. Kayode Falowo (Chairman), Olutoyin Okeowo (Director) and Koleosho Adekunle Orelope (Ag. Chief Finance Officer), handwritten signatures visible (PDF p18, page image).

    Document date
    24 Mar 2026
    Published
    31 Mar 2026
    Auditor's report
    24 Mar 2026
    Board approval
    24 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “N'000”)
    • p17 attribution (group): 'Profit for the year' 461,032 (2024: 295,402) and 'Total comprehensive profit for the year' 461,032 (2024: 295,402) are printed, while the attribution section prints Owners of the parent 461,032 (295,402) and Non-controlling interest (4) ((4)) totalling a second 'Profit for the year' of 461,028 (295,398), and under 'Total comprehensive profit attributable to:' Owners 461,032 (295,402) and Non-controlling interest (324) (2024: 4) totalling 460,708 (295,406). Checked on the page image; kept as printed. Only the first-printed profit, TCI and the 'Profit for the year attributable to' lines are transcribed.
    • Cash flow (p20): the reconciliation starts from a line labelled 'Profit for the year' that carries profit before taxation (672,866); the unlabelled subtotal after working-capital movements (569,573) is recorded as cash generated from operations; finance income received (345,300) is presented in investing activities; note references on the intangible and right-of-use additions are swapped (18/19). Kept as printed.
    • Statement of financial position (p18) is in net-assets form: no total liabilities or total equity and liabilities is printed; the non-current liabilities total (40,446; 2024: 45,874) and the equity attributable to owners (2,139,723; 2024: 1,828,023) are unlabelled subtotals. 'Net Assets' equals 'Total Equity'.
    • Earnings per share printed in kobo (basic and diluted 93; 2024: 59; p17); stored in naira with the printed figure and unit kept.
    Technical details
    File
    66 pages, with a text layer
    SHA-256
    deb8cb66498cd44eed4b6c4c0aeabb630737b4df1cc36454f612bf6b8d00757b
    Entity as printed
    Meyer Plc and its subsidiary ('the Group')
    Exchange copy
    retrieved 2026-10-08T17:56:23Z

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) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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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.

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