Bite-sized Insights about
 
Providing you with data-based insights about things happening around you.
Cadbury Nigeria Plc recorded losses in 2023 and 2024 despite a 265% growth rate in revenue from 2020 to 2024
Key takeaways:
  • Revenue grew impressively from ₦27.8 billion in 2015 to ₦129.2 billion in 2024, a 364% increase.
  • The company recorded profitable years between 2017 and 2022, peaking at ₦1.15 billion profit in 2015.
  • From 2015 to 2019, the company maintained consistent single-digit growth, averaging 9% each year.
  • The revenue more than tripled between 2020 and 2024, reaching ₦129 billion in 2024.
  • Losses were recorded in 2016, 2023, and 2024.
  • Despite revenue more than doubling between 2022 and 2024, profitability reduced dramatically.

Okomu Oil Palm Company experienced a revenue increase of 73%, with profits rising by 62% in 2024 compared to the prior year
Key Takeaways:
  • Okomu Oil Palm Company's revenue expanded by 1,236%, from ₦9.74 billion in 2015 to ₦130.06 billion in 2024.
  • Profit after tax saw a substantial increase of 1,189%, from ₦2.66 billion in 2015 to ₦34.27 billion in 2024.
  • The most significant profit growth took place between 2021 and 2024, with profit almost tripling during this timeframe.
  • Although there have been some variations in profit margins, the company has consistently realised growth annually.
  • The figures for revenue and profit reached their peak in 2024.
  • The disparity between revenue and profit after tax in 2024 is significantly greater than in earlier years.

In 2024, Dangote Sugar Refinery experienced a year-on-year revenue growth of 51%
Key Takeaways:
  • Dangote Sugar Refinery saw impressive growth rates of 68% in 2016 and 51% in 2024, marking periods of considerable expansion.
  • The company’s revenue rose from ₦101.06 billion in 2015 to ₦665.69 billion in 2024.
  • There were notable year-on-year fluctuations, with growth rates varying from -26% to 68%.
  • The period from 2020 to 2024 indicated particularly strong performance, featuring consistent positive growth.
  • The highest revenue allocation for the company was noted in 2024.

The gross profit of BUA Foods Plc increased by 64% from Q1 2024 to Q4 2024
Key takeaways:
  • In 2024, BUA Foods hit new heights, with gross profit for Q4 surpassing ₦189 billion.
  • A remarkable surge occurred in 2024, with quarterly gross profits regularly exceeding ₦100 billion.
  • The fourth quarter of 2024 marked a significant peak, illustrating a 200% increase from Q4 2023.
  • BUA Foods' gross profit dramatically climbed from approximately ₦25 billion in 2021 to nearly ₦190 billion in Q4 2024.

During the period, Nestlé Nigeria Plc's dividends peaked in 2020, reflecting an approximately 10% increase from the prior year​
Key Takeaways:
  • Nestlé’s dividends increase year after year was highest in 2018 and 2019 at ₦17.83 billion and ₦12.68 billion, respectively.
  • The declared dividends reached a peak of ₦55.49 billion in 2020, while the lowest was recorded at ₦15.06 billion in 2016.
  • In recent years, Nestlé Nigeria Plc has shown a declining trend in declared dividends.
  • Dividends decreased by nearly 14%, 17%, and 28% in 2021, 2022, and 2023, respectively, compared to the previous years.

Nestlé's income tax payments over the last ten-year period amounted to ₦221.45 billion
Key takeaways:
  • Nestlé Nigeria's income tax contributions rose from ₦5.6 billion in 2015 to ₦57 billion in 2024.
  • In 2024, the company saw an extraordinary 132% rise in taxes compared to the previous year.
  • Despite facing economic hurdles during the COVID-19 pandemic, Nestlé ensured that its tax contributions remained above ₦21 billion annually from 2020 to 2022.
  • The significant spike in 2024 was mainly due to a considerable loss before tax, driven by heightened finance costs stemming from the devaluation of the Naira.
  • Nestlé Nigeria's 144% income tax growth in 2016 is the highest in the past ten years.

From the decline in Q3 2023 until the peak in Q3 2024, BUA Foods Plc experienced an impressive growth rate of 3,783%
Key takeaways:
  • BUA Foods saw a significant profit increase between Q1 2021 and Q4 2024, with notable highs in 2024.
  • In Q3 2023, there was a drastic drop in profits, which was subsequently followed by a robust recovery.
  • The highest profit before tax was recorded in Q3 2024 at ₦78.47 billion.
  • Quarterly profits varied, ranging from as low as ₦2.02 billion to as high as ₦78.47 billion.
  • A significant turning point occurred in 2024, with quarterly profits consistently surpassing ₦60 billion.

BUA Foods' operating profit steadily increased from ₦22.81 billion in Q1 2021 to ₦174.97 billion in Q4 2024
Key takeaways:
  • The most significant growth was observed in 2024, with operating profit reaching a record high of ₦174.97 billion in Q4.
  • Despite experiencing some fluctuations each quarter, the company displayed resilience and a strong capacity for scaling.
  • BUA Foods showed consistent improvement in operating profits year over year.
  • Quarterly operating profits ranged from around ₦20 billion in 2021 to nearly ₦175 billion in Q4 2024.
  • A major breakthrough occurred in 2024, with quarterly operating profits consistently exceeding ₦99 billion.

Between Q1 2021 and Q4 2024, BUA Foods Plc's turnover experienced a remarkable growth rate, surpassing 500% overall
Key takeaways:
  • BUA Foods Plc's turnover rose from ₦70.2 billion in Q1 2021 to ₦437.4 billion in Q4 2024.
  • The organisation experienced steady quarterly increases throughout all periods.
  • A notable spike was observed in 2024, with quarterly turnover consistently above ₦315 billion.
  • The fourth quarter of 2024 marked a peak turnover of ₦437.4 billion.
  • In terms of quarterly growth, Q1 2024 recorded the highest rate at 75%.

BUA Foods Plc's income tax contributions increased from ₦1.99 billion in Q1 2021 to ₦4.76 billion in Q3 2024, despite various fluctuations
Key takeaways:
  • The third quarter of 2023 displayed an unusually low tax payment of ₦104.9 million.
  • Tax contributions stabilised once again in Q4 2023 and maintained a robust presence in 2024, especially in Q1 and Q3.
  • Beginning at ₦1.99 billion in Q1 2021, BUA Foods’ income tax payments displayed fluctuations up until 2024.
  • Tax payments for BUA Foods remained relatively stable between 2021 and 2022.
  • The peak tax payments occurred in Q2 2023 at ₦7.09 billion and Q1 2024 at ₦6.54 billion.

1 2
Can’t find what you’re looking for? Please fill the form below
Contact Form Demo
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved