Category Nigeria

FrieslandCampina WAMCO Nigeria posted turnover up 2.5% to N123.75bn in 2016 (€350m) and pre-tax profit up 7.2% to N19.96bn (€56m) in 2016 despite “harsh macroeconomic conditions and an unfriendly operating business environment”. They reported significant achievements in operational efficiencies, cost management and improved productivity across the supply chain systems with new investments in staff development and facility improvements. The company’s shareholders approved a dividend payout of 75% of the profit after tax (N10.65 per N0.50 share). F/C are focusing on improving the quality of milk from local dairy farmers.