Consumer goods companies in mixed performance
Companies in consumer goods sector that have released their Q1’17 results are Champion Breweries, Nigeria Breweries, UAC Plc, Unilever, and Cadbury.
Others are Nestle Plc, Dangote Flour, Nascon Plc, Tantaliser Plc, and GSK Consumer. Total Q1’17 revenue of the ten companies stood at N225.6 billion, up by 82 per cent from N124.14 billion.
Their combined profits declined by 28 per cent to N19.33 billion, while the turnover rose by 81.8 per cent to N225.63.
When compared with the 17.26 per cent inflation rate for the year, the sector recorded positive revenue growth and negative profitability.
The sector accounted for 12.9 per cent of the total revenue of the 62 companies and 7.0 per cent of the total profit for the period. In terms of revenue growth rate.
Dangote Flour topped with 163 per cent growth to N29 billion, as Nestle came second with 69 per cent growth to N61.2 billion, while salt giant, NASCON, came third with 42 per cent growth to N6.4 billion.
Nigeria Breweries, however led the sector’s revenue in absolute term, posting N91 billion revenue.
The company accounted for 40 per cent of the sector’s revenue, and 5.2 per cent of the overall total revenue.
Nestle came second with N61.2 billion accounting for 27 per cent of the sector’s revenue and 3.5 per cent of the total revenue of the 62 companies.
Dangote Flour came third with revenue of N29 billion. The company accounted for 13 per cent of the sector’s revenue and 1.6 per cent of the total revenue of the 62 companies.
Measured in percentage term, Dangote Flour also led in profitability growth, recording 125 per cent growth to N3.9 billion from loss of N936 million in Q1’16.
Nestle came second with 55 per cent increase in profit to N14 billion, while NASCON came third with 23 per cent growth to N1.2 billion.
Nigeria Breweries, measured in absolute figure, led the sector in terms of profit for the quarter, with N17.4 billion.
The company accounted for 43 per cent of the sector’s profit, and 6.2 per cent of that of the 62 companies combined.
Nestle came second with profit of N14.3 billion accounting for 37 per cent profit. Dangote Flour came third with profit of N3.9 billion accounting for 10 per cent of the sector’s profit and 1.5 per cent of the total profit of the 62 companies.