Manufacturing giants grow profit by 35% despite flat revenue

The ten largest fast-moving consumer goods (FMCG) companies in Nigeria reported a combined profit after tax (PAT) of N601.74 billion in H1 2026, a 35% increase from the previous year. However, their combined revenue remained flat at about N3.53 trillion, reflecting less than 1% growth. Nigerian Breweries emerged as the top revenue-generating company with N803.68 billion, while BUA Foods remained the dominant profit generator despite a decline in revenue.