Aradel Holdings Plc posted a profit after tax increase of 40.2 per cent year-on-year to N146.4 billion in its unaudited half-year results for the period ended June 30, 2025.
The Company’s results revealed that revenue increased by 37.2 per cent to N368.1 billion from N268.3 billion in H1 2024. Cost of sales rose by 91.8 per cent to N204.9 billion from N106.9 billion, while gross profit rose to N163.158 billion compared to N161.454 billion achieved in the comparative period of 2024.
Operating profit stood at N118.6 billion, down 21.1 per cent from N150.3 billion in H1 2024. The Company’s total assets grew by 3.5 per cent year-to-date to N1.8 trillion from N1.7 trillion as of December 31, 2024.
Speaking on the performance, the chief executive officer of Aradel Holdings, Adegbite Falade, said the first half of 2025 was shaped by both opportunities and challenges for Nigeria’s oil and gas industry.
Global geopolitical tensions continued to drive supply uncertainties and price volatility, while local operating conditions, from infrastructure to regulatory transitions, demanded resilience and adaptability.
“In the face of this dynamic landscape, our Company remains focused and forward-looking. We recorded strong operational performance, driven by stable average production volumes.”
He added that “we made significant progress on our strategic growth agenda. We completed the acquisition of equity interest in Chappal Energies Mauritius Limited. Furthermore, our recent investment in Renaissance Africa Energy Company, our deemed associate, has yielded positive returns, with our share of its performance featuring in Aradel’s books for the first time.
“ND Western Limited and Renaissance Africa Energy Company are expected to remain significant contributors to our bottom line from non-operated assets into the future. The consistent performance of our associate companies underscores the strategic value of our stake and supports our broader portfolio diversification objectives.”
Falade disclosed, “As we look ahead to the second half of the year, we remain focused on executing our strategic priorities: enhancing shareholder value, maintaining operational excellence, and delivering responsibly in today’s changing energy landscape.”
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