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: N10.18 billion (H1 2024: -N9.72 billion)
- PBT: N14.54 billion
- Revenue: N77.25 billion
Cadbury Nigeria returned to profitability with PAT of N10.18 billion in H1 2025, compared with a loss of N9.72 billion in H1 2024. The recovery was supported by pre-tax profit of N14.54 billion on revenues of N77.25 billion.
The company’s net margin of 13% is impressive given its recent losses. With a ROA of 12% and an exceptionally high ROE of 70%, Cadbury demonstrates significant shareholder value creation following balance sheet restructuring. Its ROCE of 66% confirms superior efficiency in deploying invested capital.
Computed using the share price of N65.65 from 26th September 2025, Cadbury’s EPS of N4.46 and a P/E ratio of 14.71x position it attractively valued, balancing profitability with growth expectations.
