Trading floor of NGX, Lagos.
Despite prevailing economic challenges, three listed firms in the fast-moving consumer goods (FMCG) sector achieved over N500 billion in gross earnings in the fourth quarter (Q4) of last year.

The three firms – BUA Foods, Unilever and Cadbury – achieved a combined revenue of N522.9 billion. The figure represents a 104.6 per cent increase compared to N255.6 billion recorded during the same period in 2023.

Data from the Nigerian Exchange Limited (NGX) showed that BUA Foods recorded revenue of N437.4 billion, representing an increase of 114.4 per cent compared to N204 billion recorded within the same period in 2023.

The FMCG manufacturing giant also achieved a pre-tax profit of N73.4 billion, representing a 288.04 per cent increase from N18.9 billion posted in the same quarter of 2023.

Cadbury Nigeria’s unaudited result for the financial year ending December 31, 2024, showed a significant rise in revenue to N39.6 billion. The figure is higher than N21.1 billion achieved in Q4 of 2023, representing 87.3 per cent growth.

The company also achieved a pre-tax profit of N2 billion, marking a significant recovery from a pre-tax loss of N17.3 billion in the same period in the previous year.

This turnaround contributed to a 47 per cent reduction in the company’s full-year pre-tax loss, bringing it down to N14.8 billion in its 2024 full-year performance.

https://guardian.ng/business-services/business/fmcg-firms-record-over-n500-billion-earnings-in-three-months/