Aradel Holdings reports a 293% surge in H1 2026 pre-tax profit to N752.71 billion, driven by oil sales.

Aradel Holdings Plc reported a 293% year-on-year increase in pre-tax profit to N752.71 billion for the six months ended June 30, 2026.

The group's total revenue spiked by 577% to N2.49 trillion, heavily supported by crude oil production and sales which contributed N1.98 trillion.

Export sales outside of Nigeria dominated the revenue mix, accounting for N1.94 trillion or nearly 78% of total revenue.

Despite a 2,843% rise in finance costs to N326.14 billion and foreign exchange-related losses, total assets rose to N10.88 trillion and cash balances hit N1.72 trillion.

This blockbuster performance signals that indigenous upstream energy firms in Nigeria are successfully leveraging global oil exports to shield themselves from local economic headwinds and generate significant dollar-denominated revenue.

Over the next six to twelve months, institutional and retail investors on the Nigerian Exchange (NGX) will likely closely monitor Aradel's capital allocation and dividend payout policies following this massive earnings leap.

However, the sharp rise in finance costs and other losses underpins a rising cost environment that management must contain in the second half of 2026.