Zichis Agro-Allied Industries Plc has announced its Q1 2026 financial results, showcasing a pre-tax profit of N241.4 million. This marks a substantial increase from the N30.5 million recorded in the same period of 2025.

The company filed its unaudited financial statement for the period ended March 31, 2026, with the Nigerian Exchange on Thursday, April 23, 2026. The impressive performance was largely fueled by a significant rise in revenue.

Revenue for the quarter surged to N420.0 million, representing a 256% year-on-year increase compared to the N118.1 million reported in Q1 2025. This strong topline growth was driven by increased output across key product segments.

Eggs contributed N135.3 million to revenue, a notable rise from N49.3 million in the prior year. Feed mill products generated N94.1 million, up from N26.4 million. Palm oil production also saw substantial growth, contributing N92.4 million compared to N11.3 million in Q1 2025.

Chicken sales increased to N69.8 million from N14.7 million, while fish sales saw a modest rise to N28.5 million from N16.5 million. The cost of sales increased by 94% to N112.4 million, reflecting higher input costs for fish, poultry, and feed materials.

Administrative expenses expanded by 124% to N66.2 million, up from N29.6 million in Q1 2025. This increase was attributed to higher salaries and wages, which rose to N11.54 million from N3.65 million, as well as increased listing-related costs and professional fees.

Despite the rise in costs, the robust revenue growth significantly boosted profitability. After an income tax charge of N12.6 million, the profit after tax settled at N228.9 million, an 819% increase from N24.9 million in Q1 2025.

On the balance sheet, total assets grew to N1.46 billion from N1.23 billion, supported by increases in both current and non-current assets. Shareholders' equity also saw a positive trend, rising to N1.40 billion, up 20% year-on-year.