Ellah Lakes plc is positioned for sustained growth, profitability and returns on shareholders’ value.
This was stated by the company’s chairman, Joe Atuenyi in an interview with our correspondence, shortly after the company’s Annual General Meeting (AGM) in Lagos to consider the group’s 2025 audited accounts.
Atuenyi said “Over the entire year, last year, we made 149 million naira. We now started producing in q1 alone. This year we’ve already made 300 million naira, which we announced last week. So, I think if you look at what we did last year and strip out this cost, I think, in terms of what we’re doing in our current run rate, it is going well”
The group’s Q1 2026 published earnings points to the earning opportunities and future profitability standing of the diversified agricultural group.
He said that the company’s failed offer in 2025 robbed off negatively on the expenditure lines, as Ellah Lakes had to pay fully for all the engaged parties to the offer as well as settle the regulatory aspects, adding that with the commencement of crude oil palm refining in its newly commissioned plant, earnings have increased, thus boosting its organic growth.
On the cost implications of the failed offer, Atuenyi said, ‘you see that fees associated with the transaction, even though it was not successful, we paid the costs. We paid technical advisor to the offer, due diligence. And even though it was not successful, we had to pay SEC for issuance of provisional new shares. So that’s where this cost came, and they had to be paid full time”
TAKE OUT THESE COSTS ELLAH LAKES EXPENDITURE WAS FLAT IN 2025
Ellah Lakes chairman Joe Atuenyi said that irrespective of the huge cost of the failed offer, the group did well in 2025 financial year.
“But I think it’s important to note that if you strip out those particular costs with exceptional costs, our expenditure stayed very flat.
He added “if you strip out the public offer we engaged in last year, this We don’t expect that expenses moving forward last year, this We don’t expect that expenses again moving forward”
He stated that those lines jumped, “but they jumped because of the exceptional nature of that failed offer transaction
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