May & Baker Nigeria Plc has released its group financial statements for the year ended December 2017.
The report shows a growth in revenue from ₦8.47 billion recorded in 2016 to ₦9.35 billion in 2017. Profit before Tax also grew from ₦345.9 million in 2016 to ₦605.6 million in 2017.
The directors have recommended a dividend of 20 kobo per share amounting to
₦196 million for the year.
The report also shows a breakdown of the 2017 revenue from its segments namely:
- Pharmaceuticals this segment is involved in the production and sale of human pharmaceuticals and human vaccines.
- Beverage involved in the production of beverage drinks including bottled water.
- Foods segment which is involved in the production of packaged foods including noodles.
In the year under review, the pharmaceutical segment revenue surged to ₦7.9 billion as against ₦6.29 billion recorded in 2016. The Beverage segment revenue also increased from ₦59.6 million in 2016 to ₦62.2 million in 2017. While the Foods segment revenue dropped from ₦2.1 billion in 2016 to ₦1.29 billion in 2017.
May & Baker Nigeria Plc was incorporated as a private limited liability company in Nigeria on September 4, 1944, and commenced business on the same date. It was listed on the Nigerian Stock Exchange NSE in 1994.The company is involved in the manufacture, sale, and distribution of human pharmaceuticals, human vaccines, and consumer products.
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