Kayode Tokede
Haldane McCall Plc has reported a 30.2 per cent improve in internet revenue to N540.87 million for the 9 months ended September 2026, supported by robust income development and an increasing asset base, as the actual property firm continues to deepen investments in its property growth portfolio.
The firm’s income rose by 59.4 per cent to N2.90 billion from N1.82 billion within the corresponding interval of 2025, reflecting elevated enterprise exercise and the potential contribution of its rising property portfolio to future earnings.
Its whole belongings expanded by 55.4 per cent to N32.73 billion, highlighting the dimensions of assets dedicated to enterprise enlargement and property growth. A breakdown of the monetary statements reveals that property, plant and tools elevated considerably to N19.36 billion from N4.23 billion, whereas inventories and work in progress almost doubled to N11.58 billion from N5.88 billion.
The firm’s notes attributed the rise in inventories partly to N5.71 billion invested in properties below development throughout the interval. This rising growth pipeline represents an vital basis for future income era as initiatives progress in direction of completion and eventual
Commercialisation.
Although price of gross sales elevated to N1.69 billion from N406.97 million, reflecting the upper price related to its enterprise actions, Haldane McCall maintained optimistic working momentum.
Gross revenue stood at N1.21 billion, whereas working revenue superior by 37.1 per cent to N850.16 million.
Other working revenue of N348.8 million, in contrast with N3.29 million within the corresponding interval of 2025, additionally supported working efficiency.
After finance prices of N30.67 million and revenue tax expense of N278.63 million, revenue for the interval elevated to N540.87 million from N415.52 million.
The firm’s stability sheet additionally displays a robust fairness place, with shareholders’ funds standing at N25.50 billion towards whole liabilities of N7.22 billion. This gives a considerable fairness base to assist its growth actions, though the funding necessities and returns from ongoing initiatives will stay vital issues.
Meanwhile, money circulate efficiency signifies that the corporate is working by way of a capital-intensive funding section. Net money utilized in working actions amounted to N5.95 billion, in contrast with N191.35 million within the corresponding interval of 2025, as funds had been dedicated to enterprise operations and the enlargement of its property growth portfolio.
The Group Managing Director, Dr Edward Akinlade, reassured shareholders that the corporate’s substantial investments in property growth are geared in direction of constructing long-term worth, strengthening its earnings capability and positioning Haldane McCall for sustainable development.
The increasing asset portfolio and ongoing growth initiatives replicate administration’s dedication to creating enduring worth for shareholders by way of disciplined execution, improved operational efficiency and efficient asset utilisation.
“Haldane McCall’s expanding asset base, 59.4 per cent revenue growth and 30.2 per cent increase in net profit are encouraging indicators of business expansion and earnings potential. The successful completion and commercialisation of ongoing projects, improved gross margins and stronger operating cash flows are important milestones for translating the company’s investments into sustainable profitability and enhanced shareholder returns”, stated an analyst
