University Press Plc has made a strong comeback, posting a profit of ₦450.6m in the 2024/2025 financial year after recording losses the year before. The news was shared at the company’s 47th Annual General Meeting in Ibadan by Chairman, Mr. Obafunso Ogunkeye.
Ogunkeye told shareholders that the publishing firm recorded ₦619.7m profit before tax, compared to a ₦222.2m loss last year. Revenue also rose to ₦3.40bn, up 29% from ₦2.63bn. He credited the turnaround to tighter financial management, improved efficiency, and asset sales.
With the positive results, the board recommended a dividend of 15 kobo per 50 kobo share. “This recovery shows our resilience and ability to adapt despite the tough economy,” Ogunkeye said.
Managing Director, Mr. Samuel Kolawole, expressed optimism about the company’s future, noting that the results provided a solid base for growth. He assured shareholders that UP Plc would expand its reach, embrace digital learning trends, and maintain strict cost control.
Shareholders praised management for steering the company back to profit. They urged the board to sustain the momentum and adopt more technology to stay competitive in the fast-changing education sector.