Consumer Goods Companies report reduced margins

Consumer goods companies listed on the Nigerian Stock Exchange (NGX) have reported a significant uptick in their cost of production in the first half of the year.
A review of the financial statements of eight major consumer goods companies listed on the NGX reveals that on average the cost of production rose by 67% in the first half of 2024 compared to the corresponding period of last year.
Some companies also saw their production costs almost double in the period under review.
The eight companies reported a total operational cost of N1.58 trillion in the first half of 2024 compared to N952.32 billion in the same period of 2023.