Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (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
Premier Paints
On this page
Company details
- Legal name
- Premier Paints Plc
- Listing
- PREMPAINTS on the Nigerian Exchange, active · ISIN NGPREMPAINT2 (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
- Going-concern warning. The auditor's report for the year ended 31 December 2025 states a material uncertainty about whether the company can continue as a going concern.
Full wording and sources
Auditor's report, year to 2025-12-31: material uncertainty related to going concern
There is a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern, and accordingly is disclosed in the audited financial statements. Based on our audit of the company's financial statements, we also have identified a material uncertainty. (Going Concern, PDF p17)
Source: Premier Paints Plc Audited Report and Financial Statements - 2025, p15 (dated 2026-03-26)
-
Revenue
NGN 148 million
148,105 NGN thousands · p37
+13.2% vs 2024
-
Operating profit / (loss)
NGN 2.48 million
2,481 NGN thousands · p37
Moved from loss to profit (FY2024: (477) NGN thousands)
-
Profit / (loss) for the year
NGN 1.99 million
1,993 NGN thousands · p37
Moved from loss to profit (FY2024: (707) NGN thousands)
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Total assets
NGN 162 million
161,737 NGN thousands · p38
−5.4% vs 2024
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Total equity
−NGN 218 million
(217,912) NGN thousands · p38
Change not shown.
-
Cash from operations
NGN 980,000
980 NGN thousands · p40
Change not shown.
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.
Not shown: the prior-year figure is zero or negative.
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
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Revenue | 148,105 | 130,828 |
| Cost of sales | (111,552) | (102,738) |
| Gross profit | 36,553 | 28,090 |
| Other operating income | –1 | –1 |
| Selling and Distribution expenses | (12,466) | (9,003) |
| Administrative expenses | (21,606) | (19,563) |
| Operating Profit/ (loss) | 2,481 | (477) |
| Finance costs | –2 | –2 |
| Loss before taxation | 2,481 | (477) |
| Taxation | (488) | (230) |
| Loss after taxation | 1,993 | (707) |
| Total Comprehensive Profit for the Year Net of Tax | 1,993 | (707) |
- Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Balance sheet
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 159,310 | 169,049 |
| Non-current assets (unlabelled subtotal) | 159,310 | 169,049 |
| Inventories | 247 | 781 |
| Trade and other receivables | 259 | 149 |
| Prepayments1 | –2 | –2 |
| Cash equivalents | 1,921 | 942 |
| Current assets (unlabelled subtotal) | 2,428 | 1,872 |
| Total assets | 161,737 | 170,920 |
| Share capital | 61,500 | 61,500 |
| Share premium | 18,206 | 18,206 |
| Capital reserve3 | 181,150 | 181,150 |
| Retained earnings | (478,768) | (480,761) |
| Total equity | (217,912) | (219,905) |
| Deferred taxation | 9,558 | 9,558 |
| Non-current liabilities (unlabelled subtotal) | 9,558 | 9,558 |
| Trade and other payables | 188,071 | 199,944 |
| Income Tax Payable | 1,430 | 733 |
| Interest bearing loans and borrowings | 180,590 | 180,590 |
| Current liabilities (unlabelled subtotal) | 370,091 | 381,267 |
| Total liabilities | 379,649 | 390,825 |
| Total equity and liabilities | 161,737 | 170,920 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (2)
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Prepayments (note 10), printed apart from trade and other receivables.
- “Capital reserve” is an issuer-specific line, not mapped to a shared definition: Capital reserve as printed in equity.
Cash flow
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Operating profit before changes in working capital1 | 11,732 | 9,291 |
| Net cash from operating activities (unlabelled subtotal)2 | 980 | (1,039) |
| Net Cash from Investing Activities | –3 | –3 |
| Net (decrease)/Increase in cash and cash equivalents | 980 | (1,039) |
| Cash and cash equivalents at the beginning of the Year | 942 | 1,981 |
| Cash and cash equivalents at the end of the year | 1,921 | 941 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
Notes and alternative reported figures (2)
- “Operating profit before changes in working capital” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the indirect-method operating section.
- “Net cash from operating activities (unlabelled subtotal)”: mapping to a shared definition is uncertain. Unlabelled subtotal closing the working-capital section; no tax or interest paid amount is printed (dashes), so it is the net operating cash flow.
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.
No dividend statement or amount collected.
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.
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Premier Paints Plc Audited Report and Financial Statements - 2025
Year ended 31 December 2025 · Audited financial statements · signed / final
Audit: Ayinde Saheed & Co. (Chartered Accountants), Lagos, unmodified opinion · signed · includes a material-uncertainty paragraph
Auditor's sign-off: Saheed Ayinde (Managing Partner), for Ayinde Saheed & Co.
Final status: Independent auditors report to members of Premier Paints Plc (PDF pp15-18; opinion p15), unmodified, signed by hand over an ICAN seal beside 'For: Ayinde Saheed & Co. (Chartered Accountants), SAHEED AYINDE (FRC/2023/PRO/ICAN/004/190358), Managing Partner, LAGOS, NIGERIA March 26, 2026' (p18, page image). The statement of financial position was 'Approved by the Board of Directors on March 26, 2026' with handwritten signatures of Adedoyin Adeyinka (Chairman) and Matthew Eledan (Head of Finance) (p38, page image).
- Document date
- 26 Mar 2026
- Auditor's report
- 26 Mar 2026
- Board approval
- 26 Mar 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”)
- Statement of cash flows (p40): 2024 'Cash and cash equivalents at the end of the year' is printed 941, while the 2024 balance sheet cash is 942 (p38) and the 2025 opening balance is printed 942; 1,981 + (1,039) = 942. Kept as printed.
- Earnings per share: the heading reads 'Earnings per share -( kobo )' but the row reads 'Earnings/ (Loss) per share (Naira)' with 1.62 and (0.57) (p37). With share capital N61,500k (123,000,000 shares of 50 kobo, note 12), profit N1,993k and loss N707k give 1.62 and (0.57) kobo, so the figures are in kobo as the heading says; stored in naira (/100) with the printed figure and unit kept, mapping ambiguous because of the row label.
- Going concern: the company reports negative equity ((217,912); 2024: (219,905)) and current liabilities (370,091) far above current assets (2,428) (p38). Note 18 'Going concern' (p50) still refers to '31 December 2020' and a negative working capital of N198 million (2019: N177 million), and says the basis assumes continued financial support from the holding company (stale wording carried from earlier years).
- Statement of cash flows (p40) prints no 'net cash from operating activities' label: the unlabelled subtotal 980 / (1,039) closes the working-capital section and equals the net change in cash; taxation paid lines are printed as dashes. Investing and financing lines are all dashes.
- The auditor's report refers to related-party disclosures in 'Note 28', and the inventory key audit matter refers to 'no impairment allowance required for inventories at 31 December 2023' and inventories of 'approximately N247' (p16): wording as printed.
Technical details
- File
- 52 pages, with a text layer
- SHA-256
6cd19d7e8cb783ea9b806233a4f277f8c8aaf805bb80b6896f18d6adb75ba389- Entity as printed
- PREMIER PAINTS PLC
- Exchange copy
- retrieved 2026-10-08T17:56:02Z
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 OCR text and compared cell by cell with the page image; read from the page image) (17 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.