Haldane McCall Plc has announced its financial results for the year ended December 31, 2025, reporting a pre-tax profit of N754.8 million. While this represents a 25.6% decrease from the N1.01 billion recorded in 2024, the company remained profitable, largely driven by sales contributions.

The company's full-year revenue reached N2.27 billion, a decline from the N3.64 billion reported in the previous year. Revenue from land and buildings contributed the most significant portion, followed by hotel operations. Specifically, sales of land and buildings accounted for N1.3 billion, representing 57.6% of the total revenue, while hotel operations added 35.1%.

In light of these results, the Board of Directors has declared a final dividend of 5 kobo per unit, which is payable to shareholders on June 18, 2026. This is a decrease from the 7 kobo dividend paid in FY2024.

The cost of sales decreased to N471 million, a significant drop from the N1.5 billion in the previous year, resulting in a gross profit of N1.8 billion, compared to N2.05 billion in FY2024. Other operating income also saw a sharp decrease, falling to N3.2 million from N20.8 million, while administrative expenses amounted to N1.05 billion.

Looking at the balance sheet, total assets reached N21.8 billion, a slight decrease from N21.9 billion. Property, plant, and equipment accounted for the largest portion of assets, totaling N14.2 billion. Total equity rose by 2.94% to N17.1 billion, and total liabilities fell by 12.35% to N4.6 billion, primarily due to a reduction in the director’s current account from N1.6 billion to N813.9 million.

Chief George Oguntade, SAN, Chairman of Haldane McCall, stated that the company delivered stable performance despite macroeconomic challenges. He expressed the Board's confidence in management’s ability to drive sustainable growth and shareholder value. He further elaborated that the Group’s strategy is centered on acquiring and developing Lagos-based properties and hospitality assets, enhancing the balance sheet, optimizing asset value, and managing liquidity through phased sales.

The market's reaction to the results has been relatively muted, with shares of the company currently priced at N4.03, reflecting a decrease of over 6% month-to-date. However, year-to-date, the shares have gained 0.75%.