financial loss
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Nigeria Brewing Industry in Nigeria Hit Hard with Combined Losses of N169.7 Billion
Nigeria's top breweries, including Nigerian Breweries Plc and Guinness Nigeria Plc, suffer a combined loss of N169.7 billion in Q1 2024 due to rising interest rates and naira devaluation. BusinessDay's analysis reveals the sector's financial strain amid foreign exchange losses and economic... -
Nigeria MTN Nigeria Records Second Consecutive Loss Amid Economic Turmoil
MTN Nigeria Communications Plc has announced its second consecutive loss, reporting a loss after tax of N392.7 billion for the first quarter of 2024. Despite a significant 32.0 percent increase in service revenue to N747.3 billion year-on-year, the telecom giant faced challenges that led to its... -
Nigeria Naira Devaluation Blamed as Dangote Sugar Faces ₦172 Billion Forex Losses in 2023
Dangote Sugar Refinery Plc faces financial headwinds as it reports a substantial loss before tax amounting to N108.92 billion in its 2023 annual report. The staggering foreign exchange losses of N172.198 billion, attributed to the devaluation of the naira, lead to a 53% depletion of... -
Nigeria Exit Fears: Nestle Nigeria's Financial Woes Spark Worries Among Investors
Nestle Nigeria Plc has encountered a significant financial setback, reporting a loss before tax of N104 billion for the fiscal year 2023, a stark contrast to the N71 billion profit recorded during the same period in 2022. The company's 2023 financial statement, disclosed on the NGX on February...
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