Nigeria’s listed consumer goods sector posted a remarkable rebound in the first half of 2025, with several companies recovering from deep losses in 2024 to significant profits.
BUA Foods Plc led the rankings with N260.07 billion profit after tax (PAT), followed by Nigerian Breweries and International Breweries, highlighting both sectoral resilience and renewed consumer demand.
Smaller firms, including Vitafoam Nigeria, Champion Breweries, and Northern Nigeria Flour Mills, also demonstrated resilience with sharp earnings growth and improved efficiency metrics while their absolute profit sizes remain modest.
This performance reflects the resilience of Nigeria’s consumer goods sector despite persistent inflationary pressures, foreign exchange volatility, and weaker consumer demand in 2024. Companies benefited from tariff adjustments, tighter cost discipline, and a more stable FX environment, which collectively supported margin expansion and improved bottom-line performance.
Large operators such as Dangote Sugar Refinery, PZ Cussons, Guinness Nigeria, and Honeywell Flour Mills still posted losses during the period, underlining the challenges some players continue to face despite sector-wide improvements.
Below are the most profitable listed consumer goods in H1 2025.
Top 10 most profitable listed consumer goods
- PAT: N6.70 billion (H1 2024: -N5.58 billion)
- PBT: N9.89 billion
- Revenue: N56.71 billion
Vitafoam posted a PAT of N6.70 billion in H1 2025, recovering from a loss of N5.58 billion in H1 2024. Pre-tax profit reached N9.89 billion on revenues of N56.71 billion.
Its net margin of 12% underscores profitability restoration, while a ROA of 11% reflects efficient asset use. A ROE of 22% and ROCE of 19% highlight strong shareholder and capital efficiency.
Vitafoam’s EPS of N5.36 and P/E ratio of 14.71x computed using the share price of N79 from 26th September 2025, suggest it remains fairly valued, offering investors a balanced mix of growth and affordability.
