Despite maintaining positive operating performance, the company’s profitability was eroded by rising administrative expenses and significant borrowing costs. Operating profit fell to N7.33bn from N9.37bn in the corresponding period last year, reflecting lower business activity and continued pressure on margins. AdvertisementThe company’s total operating result consequently slipped to a loss of N283.09m, compared with an operating profit of N11.57bn in the first half of 2025. The sizeable interest burden outweighed operating earnings, resulting in a pre-tax loss of N8.66bn, compared with a pre-tax profit of N2.07bn recorded in H1 2025. Consequently, basic earnings per share deteriorated to a loss of N2.59, compared with earnings of 61 kobo in the corresponding period of 2025.