Friday, October 07, 2016 5:55pm / NASD Plc
FrieslandCampina WAMCO Nigeria Plc is a multinational manufacturing company. It is a subsidiary of Royal FrieslandCampina of The Netherlands.
The Company operates an extensive distribution network across Nigeria's 36 states and the Federal Capital Territory. The company currently employs about one thousand permanent staff deployed in various locations around Nigeria.
The Company generated revenue of ₦120.72 billion for the year ended December, 2015. This represents a relatively stable performance as compared to the previous year
Relatively flat top line is as a result of weak consumer demand and general decline in business activities which has been reflected in the contraction of the Nigerian GDP in Q1 2016.
Profit before Tax (PBT) however increased by 13% to ₦18.60 billion as a result of a significant reduction in the cost of sales despite increased operating and finance costs.
WAMCO has maintained a relatively stable financial condition over the period covered in this report. Revenue has grown at a CAGR of 3.5% from ₦104.98 billion in 2011 to ₦120.72 billion in 2015.
The Company aims to strengthen its leadership position in the diary market by investing in its brands and capabilities. It hopes to achieve this by improvement in operational efficiency and leveraging on increasing concern towards health and changing consumer dietary patterns in Nigeria.
The Company recently signed a MoU with the Federal Government to improve diary production. At the signing, the Company unveiled plans to invest ₦3 billion into the programme. This implies a positive development for FrieslandCampina WAMCO and would indeed facilitate the company’s growth.
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