Top FMCGs in Nigeria earn N504.7196 billion as revenue in half year of 2022

Companies leading in consumer goods in Nigeria had earned a whopping sum of N504.7196 billion as revenue in the half year of 2022, outperforming their earnings in the corresponding period of 2021 of N126.08 billion.

The companies are Dangote Sugar Plc, Nascon Plc, Unilever Plc, Nestle Plc and Cadbury Nigeria Plc. According to the information contained in the half year financial statements of these companies and compiled by Nairametrics research, the companies’ revenues rose by 33.3% compared to half year 2021.

The revenue growth recorded by the companies is remarkable, considering economic disruptions in the global economy occasioned by the ripple effect on energy, power, and food cost, amongst others, caused by the Russia-Ukraine face-off and the global inflationary pressure on household wallets.

The growth in revenue reported by these companies was driven by higher product prices and demand from consumers in the half year of 2022.

The five consumer goods firms quoted on the floor of the Nigerian Stock Exchange were ranked by revenues based on published financial statements and also ranked by percentage growth.

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