BusinessDay
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Poor sales squeeze FMCGs’ gross margin to 5-year low

The amount Nigerian fast-moving consumer goods (FMCGs) companies are retaining from each naira of sales as gross profit fell to its lowest in over five years in the first half of 2020, as declining sales and higher costs bite hard on profitability amid the COVID-19 pandemic. Analysis of the average gross margin for Nestle Nigeria,…



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