Insurgency takes toll on consumer firms earnings

Quoted Fast Moving Consumable Goods Companies have mostly been affected by the insurgency ravaging huge swathes of Northern Nigeria, as data from their 2014 nine months results show flat growth in revenues.

Some of the Fast Moving Consumable Goods Companies that have released third quarter results include Nestle Nigeria Plc, Nigerian Breweries Plc, Flour Mills of Nigeria Plc, Unilever, Dangote Sugar Plc and GlaxoSmithKline Nigeria Consumer Plc.

The cumulative revenues of the six major players for the third quarter of 2014 (Q3 2014) remained flattish at N603.60 billion, data compiled by BusinessDay shows.

Analysts say the