MAY & Baker Nigeria Plc has sustained its growth trajectory despite the loss of key products, which hitherto accounted for about 35 percent of its revenue.
The company’s financial statement for the 2018 financial year released to the Nigerian Stock Exchange, NSE, showed a 6.08 percent growth in turnover to N8.55 billion in 2018 from N8.06 billion in 2017. This was achieved despite the fact that in 2018, the company lost three key products which contributed over N3 billion in turnover for the 2017 business year.
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The company discontinued the production of its foods business, Mimee Noodles to concentrate on its core healthcare business, while Maysedyl, its codeine based cough syrup and Sulphanamides were stopped on account of industry wide regulatory requirements.
The company’s financial statement showed not only steady growth in turnover but also a sustained profitability as profit before tax, PBT,…
