₦airaland Forum

dapix:
https://doclib.ngxgroup.com/Financial_NewsDocs/45069_P_Z_CUSSONS_NIGERIA_PLC.-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_SEPTEMBER_2025.pdf

PZ is fully back from losses!!!!!!!!!!

Posted my thoughts on this PZ result. You can login, read and comment

https://ngxforum.com/thread/85/pz-cussons-nigeria-plc-cg?page=1&scrollTo=367

Odunharry:
The best thing to do is to visit there office if you are in Lagos.

Thanks. They are very ineffective and inefficient. But I sent an email to one modupeola.ajigbotafe@firstregistrarsnigeria.com, and got a reply.

Try it

awesomeJ:
You're exactly right, I commented without even reading the actual results, I just read the earnings summary.

Thanks for pointing this out.

Now, a better comment:

Naira closed May 29thth 2025 at 1586.15

It closed August 28th 2025 at 1535.47

That's a N50 gain in the intervening period
If their net FX exposure is $70 million (that is for both credit and the net value of trade receivables and trade payables in fx). Then it explains the N3.5bn gain.

Loan from their parent company alone is $40m and the FX gains of about N2bn is explicitly mentioned.

Is naira likely to gain N50 every quarter over their current reporting year?

Maybe, maybe not. That would imply naira at 1385 by May 31st 2026.

It's important to mention that the naira has already gained another N60 from the level it was at in May. If the gains continue till November (next month end), they should report another c. 4bn in Fx gains all things being equal.


Then the big one, the 12bn other income.

How likely is that to reoccur?

Well they had some assets (depot facilities) across the country which they carry at a value of about 1bn on their books.

They sold just N137m worth for about 12bn.

That's nearly 100x (87x)

By interpolation, since the real estate market isn't going into depression, the remaining 876m could still be sold for another 76bn in profits.


So those are what the numbers show currently.

Thanks again for making me correct the lazy comment I initially dropped.


Please add the new context @emmaodet.

Happy new month guys, happy new quarter (our favorite Q4) and happy independence!

Happy new month as well.
Selling off their depot facilities, isn't it a sign they are really about to exit? Exit market or reduce operations to an extent
I think it should be a warehouse for their products for distribution to major dealers.
If it continues as you speculated , it may also just likely be the depot related to Willmar-PZ deal.

chimex38:
Happy new month as well.
Selling off their depot facilities, isn't it a sign they are really about to exit? Exit market or reduce operations to an extent
I think it should be a warehouse for their products for distribution to major dealers.
If it continues as you speculated , it may also just likely be the depot related to Willmar-PZ deal.

Look up the meaning of speculated and stop abusing it. You may also copy my post to chatGpt to have it explain it to you.

Turn on the Think longer button on the AI if you use a free plan.

@handsomebolanle
The resolution is that Dangote should reinstate the workers to other companies within his group, but they're not going back to the refinery.

I see that as a win or a draw at worst.

What do you think?

Did anybody notice that NCR traded more than 60% of its outstanding shares yesterday alone? It looks like their foreign majority holder exited.

IMO Aliko wins here: Union has been subdued in the refinery.

The 'reinstated' staff will miss out on the juicy allowances in the O&G.

I can bet, not all of them will stay long in DIL...

awesomeJ:
@handsomebolanle
The resolution is that Dangote should reinstate the workers to other companies within his group, but they're not going back to the refinery.

I see that as a win or a draw at worst.

What do you think?

dapix:
https://doclib.ngxgroup.com/Financial_NewsDocs/45069_P_Z_CUSSONS_NIGERIA_PLC.-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_SEPTEMBER_2025.pdf

PZ is fully back from losses!!!!!!!!!!

when I saw it I shouted YAS!!!!!

KarlTom:
IMO Aliko wins here: Union has been subdued in the refinery.

The 'reinstated' staff will miss out on the juicy allowances in the O&G.

I can bet, not all of them will stay long in DIL...

That's my interpretation too 😁😁
He didn't want them in his refinery, they're not gonna be in his refinery.

Who really cares if they go to the sugar or cement business where pengassan will have to leave them(those employees) on their own.

KarlTom:
IMO Aliko wins here: Union has been subdued in the refinery.

The 'reinstated' staff will miss out on the juicy allowances in the O&G.

I can bet, not all of them will stay long in DIL...

He will redeploy them to his rice,tomato and sugar companies up north, lol.
Then gradually sack them again.
My guy here handsomebolanle will be going to his rice farm with all his special skills too.
The remaining workers now at the refinery will avoid union since is not mandatory not to learn the hard way.Some of those sacked will voluntarily leave DIL because they cannot stand the new line of job and possible location

KarlTom:
IMO Aliko wins here: Union has been subdued in the refinery.

The 'reinstated' staff will miss out on the juicy allowances in the O&G.

I can bet, not all of them will stay long in DIL...

Lols…
Dangote's got a tough road ahead of him if he keeps going down this path. Let's see how this plays out and how long he can keep fighting. If this truce is true, let’s give it sometime and I will quote myself when the new replacement working in DIL decides to join Union and the matter resurfaces again.

Honestly, making peace with PENGASSAN would be way cheaper than all this drama.
PENGASSAN is not like many unions you all know.

I wouldn’t argue on this matter. Win/Draw/Loss…. It wouldn’t matter - if one person is badly treated then everyone is.

You said, and I quote, "Dangote is NOT winning this".

Now " it doesn't matter" ...

handsomebolanle:
Lols…
Dangote's got a tough road ahead of him if he keeps going down this path. Let's see how this plays out and how long he can keep fighting. If this truce is true, let’s give it sometime and I will quote myself when the new replacement working in DIL decides to join Union and the matter resurfaces again.

Honestly, making peace with PENGASSAN would be way cheaper than all this drama.
PENGASSAN is not like many unions you all know.

I wouldn’t argue on this matter. Win/Draw/Loss…. It wouldn’t matter - if one person is badly treated then everyone is.

KarlTom:
You said, and I quote, "Dangote is NOT winning this".

Now " it doesn't matter" ...

Oga calm down. So how has Dangote won? E for no sit down come to a compromise na and see the $20b shut down and banks come after him.
Make nobody stress me for argument na??

Before you quote me, ask shell, total, chevron, schlumberger, bakerhughes, Halliburton and many of them. You think PENGASSAN na your community union mate?

What I wrote was just on a general note.

KarlTom:
You said, and I quote, "Dangote is NOT winning this".

Now " it doesn't matter" ...

Na so life be 😁😁😁

handsomebolanle:
Lols…
Dangote's got a tough road ahead of him if he keeps going down this path. Let's see how this plays out and how long he can keep fighting. If this truce is true, let’s give it sometime and I will quote myself when the new replacement working in DIL decides to join Union and the matter resurfaces again.

Honestly, making peace with PENGASSAN would be way cheaper than all this drama.
PENGASSAN is not like many unions you all know.

I wouldn’t argue on this matter. Win/Draw/Loss…. It wouldn’t matter - if one person is badly treated then everyone is.

Who told u if he employs new people who may not even be Nigerian again will want to go close to union to learn the hard way.Is the union thing now mandatory to workers
Whether u agree or not.The 800 guys if strictly oil and gas professionals will be regretting opportunity lost because of the union. The guys who may not be into real oil and gas among them can switch to any other company. I hope u know in the new company they are going, comes with new salary structure not like what they whr receiving in the refinery.
They lost out big time

awesomeJ:
Na so life be 😁😁😁

You yourself said it’s more like a Win/Draw….

But for sure, Dangote sat down on the table and came to a compromise by absorbing the guys sacked back which was the unions request.

So tell me how thy is a loss… Boss, this na common sense na.

awesomeJ:
Look up the meaning of speculated and stop abusing it. You may also copy my post to chatGpt to have it explain it to you.

Turn on the Think longer button on the AI if you use a free plan.

"the remaining 876m could still be sold for another 76bn in profits".
maybe I should have used assumed.

Streetinvestor2:
Who told u if he employs new people who may not even be Nigerian

Be on the watch as labour union and labour act will come after him. He will also have to pay more.
DIL is already in radar and the law is waiting for him. Go and ask sterling Global oil and gas. You people don’t even rate NIGERIA 😀.
I understand many of you don’t know so much about Oil and Gas industry. Even Dangote will familiarize himself soon.

handsomebolanle:
You yourself said it’s more like a Win/Draw….

But for sure, Dangote sat down on the table and came to a compromise by absorbing the guys sacked back which was the unions request.

So tell me how thy is a loss… Boss, this na common sense na.

So has pengassan enforced the newly employed to Dangrefine to join their union? As long as there is no worker in the refinery who is has joined pengassan, it is a win for Dangote. Meanwhile, those 800 that would be reabsorbed and scattered to other locations in the Dangote group, their eyes go see shege

chimex38:
"the remaining 876m could still be sold for another 76bn in profits".
maybe I should have used assumed.

That's not a speculative statement sir.

Maybe if I said "will be sold" , then you could hold me.

If you have 10 things and sold 2 of them for N2m profit, then I say "given that the market conditions remain the same, you could still sell the remaining 8 for N8m profit"

I'm not speculating that you will sell, I'm only answering the question I had raised in the post of whether or not such gains could reoccur.


I'm sure you get my point.

handsomebolanle:
Lols…
Dangote's got a tough road ahead of him if he keeps going down this path. Let's see how this plays out and how long he can keep fighting. If this truce is true, let’s give it sometime and I will quote myself when the new replacement working in DIL decides to join Union and the matter resurfaces again.

No tough road...
He is setting pace for future refineries....
Even FG has no option. his refinery is a national asset....
Once BUA comes up.....they can team up to finish these ...
blood sucking unions...

KarlTom:
IMO Aliko wins here: Union has been subdued in the refinery.

The 'reinstated' staff will miss out on the juicy allowances in the O&G.

I can bet, not all of them will stay long in DIL...

They will transferred to Dangote farm in Taraba or Dangote businesses in Togo, Zambia and other African countries.

Agbalowomeri:
So has pengassan enforced the newly employed to Dangrefine to join their union? As long as there is no worker in the refinery who is has joined pengassan, it is a win for Dangote. Meanwhile, those 800 that would be reabsorbed and scattered to other locations in the Dangote group, their eyes go see shege

😁😁😁

Streetinvestor2:
He will redeploy them to his rice,tomato and sugar companies up north, lol.
Then gradually sack them again.
My guy here handsomebolanle will be going to his rice farm with all his special skills too.
The remaining workers now at the refinery will avoid union since is not mandatory not to learn the hard way.Some of those sacked will voluntarily leave DIL because they cannot stand the new line of job and possible location

A 3rd party company will be contracted to supply workers to the refinery

handsomebolanle:
You yourself said it’s more like a Win/Draw….

But for sure, Dangote sat down on the table and came to a compromise by absorbing the guys sacked back which was the unions request.

So tell me how thy is a loss… Boss, this na common sense na.

I didn't say win/draw.

I said it's a win, and at worst a draw.

By "at worst" , I meant even the most biased interpretation could never rule it as a loss that you had expected.

For the avoidance of doubt, me myself see it as a win.

Streetinvestor2:
Who told u if he employs new people who may not even be Nigerian again will want to go close to union to learn the hard way.Is the union thing now mandatory to workers
Whether u agree or not.The 800 guys if strictly oil and gas professionals will be regretting opportunity lost because of the union. The guys who may not be into real oil and gas among them can switch to any other company. I hope u know in the new company they are going, comes with new salary structure not like what they whr receiving in the refinery.
They lost out big time

They have not lost out. They are high value workers with rare talents. They have also received training abroad at the expenses of their employer.

They now have highly marketable skills and knowledge that are in top demand locally.


The loser is the employer who spent money training them abroad and now refusing to employ them in the refinery for what's reason

awesomeJ:
That's not a speculative statement sir.

Maybe if I said "will be sold" , then you could hold me.

If you have 10 things and sold 2 of them for N2m profit, then I say "given that the market conditions remain the same, you could still sell the remaining 8 for N8m profit"

I'm not speculating that you will sell, I'm only answering the question I had raised in the post of whether or not such gains could reoccur.


I'm sure you get my point.

Like I wrote above, maybe I should ve used assumed.

Agba has influenced me.
I now type more pidgin than I used to.


It's worth it though.

Cos I like his cruise with Loco.

---> Loco don sell Japaul run

---> Agba na traditional bank, Loco na fintech (always referring to himself in the 3rd person 😁😁)

chimex38:
Like I wrote above, maybe I should ve used assumed.

Still wouldn't be accurate.

I didn't assume they would sell.

I was simply answering the question of whether or not the 12bn could reoccur.

No assumption or speculation as to whether they would sell.

What if they don't find buyers? What if the deal doesn't close within the reporting year.


Maybe you could reread the post in the context of its original intent, which has nothing to do with assumptions.

chimex38:
........
.........
DR workers can have a union, it's their right but its best within the DR or better still join the DIL group conglomerate union if any.
It shouldnt have to be with the government which will infiltrate their minds into cunning deals and sabotage the DR while fighting for other companies.

Almost like solution was foretold .
Join other DIL group and unionize..QED

awesomeJ:
Still wouldn't be accurate.

I didn't assume they would sell.

I was simply answering the question of whether or not the 12bn could reoccur.

No assumption or speculation as to whether they would sell.

What if they don't find buyers? What if the deal doesn't close within the reporting year.


Maybe you could reread the post in the context of its original intent, which has nothing to do with assumptions.

OK. in context, you were creating awareness about the current worth of their depot assets.

I probably must have read a little more meaning into it than necessary. especially given their delisting situation.
It's all good.