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: N50.57 billion (H1 2024: -N176.91 billion)
- PBT: N88.40 billion
- Revenue: N581.12 billion
Nestlé Nigeria recovered from a loss of N176.91 billion in H1 2024 to post a PAT of N50.57 billion in H1 2025, with pre-tax profit of N88.40 billion on revenues of N581.12 billion.
Its net income margin of 8.70% reflects improved cost discipline, while a ROA of 6% and ROE of -112% or -1.12x % underscores that negative equity continues to weigh on shareholder returns. The ROCE of 11% further reinforces stable, if moderate, returns.
Computed using the share price of N1,870 from 26th September 2025, Nestlé delivered EPS of N63.80, but its P/E ratio of 29.31x places it among the most expensive stocks in the sector, reflecting high investor confidence in its global brand strength despite Nigeria-specific challenges.
