In the latest episode of Follow the Money with Ugodre, we discussed some remarkable profit stories coming out of Nigeria’s corporate world. Despite economic challenges, some companies have truly shone in 2024, leading the pack are Total Energies, BUA Foods, and Unilever. Let’s break down how they did it!
Total Energies pulled off a stunning feat with a tax profit of N42.2 billion, up a whopping 140% from N17.5 billion in 2023. The real kicker? Revenue surged to a historic N1 trillion. A major chunk of this came from white products (fuel, diesel, jet fuel), which contributed N830 billion, while lubricants added N214 billion. The cherry on top was a N20 billion debt recovery, which gave profitability a major boost.
Not to be outdone, BUA Foods also delivered incredible results, crossing the N1.5 trillion revenue mark. Their flour mills division was a powerhouse, raking in N541 billion, while sugar and pasta divisions added N743 billion and N197 billion respectively. This performance cements BUA Foods’ status as a leader in the FMCG sector.
Unilever wasn’t left behind either, reporting a 44% revenue jump to N149.5 billion. The nutrition segment led the charge with N92 billion, followed by personal care at N43.9 billion. Despite grappling with higher costs, the company’s finance income rose by 46% to N6.8 billion, helping them land a pre-tax profit of N22.6 billion.
This program reflects the presenter’s views, not Nairametrics’. It is for educational purposes only and not investment advice. Investors should do their research and consult a financial adviser before making decisions.
For more insights into corporate performances and investment opportunities, subscribe to Nairametrics TV on YouTube!
