Paint firm CAP reports 57% rise in annual profit

Chemical and Allied Products Plc, a Nigerian paints and coatings company, posted a profit before tax of N5.9 billion last year, up 57% compared to 2023.

 The company’s revenue increased by 52% to N36.4 billion revenue, according to its unaudited results for the year ended 31 December 2024.

“We are delighted to announce our performance for Q4 2024, reflecting the resilience of our business mode and our ability to thrive in a challenging operating environment,” Bolarin Okunowo, its managing director, said.

“These strong results were achieved because of the trust and commitment shown by our customers, trade partners and employees. As we look ahead to 2025, we remain focused on elevating the experiences of our customers and exceeding the expectations of all our stakeholders.”