• Monday, March 04, 2024
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BusinessDay

Chellarams makes a frontal push on Nigeria’s FMCG market

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Chellarams plc, manufacturer of Real Milk, Real Activ Malted Food Drink, Oldenburger, among others, is currently making a big push on Nigeria’s fast-moving consumer goods market (FMCG).

A close look at the financial statement released by the company last month shows that as a single company, revenue between October and December reached N6.388 billion, from N5.371 billion recorded in the corresponding period of 2012. This represents 19 percent increase.

As a group, the firm’s revenue reached N7.184 billion within the period of 2013, as against N6.020 billion recorded in 2012. Between April and December 2013, on the other hand, revenue of the single company was N17.517 billion, as against N15.625 billion recorded within the same period in 2012. This represents 12 percent increase.

With efforts on all fronts to gain a large market share, the group’s revenue between April and December reached N20 billion, 15 percent rise from N17.41 billion recorded in the same period of 2012.

Profit after tax for company was N69.44 million between October and December 2013, 21 percent rise from N57.5 million recorded in the same period of 2012. For the group, profit increased to N126.2 million, from N9.02 million recorded in 2012, representing 1299 percent rise. April to December profit of single company was N233 million, from N166 million recorded in the same period of 2012. However, the group’s profit within the period fell by N12.33 million, from N119 million to N107 million.