Aradel Holdings Plc reported a 30 percent increase in profit after tax to N191 billion for the first half of 2026, despite a significant surge in its tax burden. While pre-tax profit soared 293 percent to N752.7 billion, the company’s tax expense climbed to N561.7 billion, resulting in an effective tax rate of approximately 75 percent. Revenue grew significantly to N2,491.5 billion, driven by a 523 percent increase in production to an average of 139,500 barrels of oil equivalent per day. Additionally, the company significantly strengthened its balance sheet, reducing net debt by 70 percent to N46.5 billion.