FrieslandCampina records revenue growth in Nigeria

FrieslandCampina Wamco realized a turnover growth of 35% last year. The turnover of FrieslandCampina Wamco, of which the Dutch dairy group is the majority shareholder, last year amounted to 268,4 billion Nigerian naira. This is converted over €600 million.

This was announced at the General Meeting of Shareholders that took place last week in Lagos. Gross operating profit increased by 13% to just under €50 million. However, profit before tax decreased by 15% to €28 million. This decline is due to higher financing costs as a result of the devaluation of the Nigerian currency.

The top management of the Nigerian dairy company speaks of a successful year, with the focus on strengthening the brands and the physical availability of dairy products. Also the launch of the mobile yogurt factory in the Nigerian market is being staged as a highlight.

Wouter Job

Wouter Baan is Head of Meat & Dairy at BoerenbusinessAt DCA Market Intelligence, he focuses on dairy, pork, and meat markets. He also monitors (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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