According to recent research, BUA Foods, Dangote Sugar Refinery, and Nigerian Breweries, in the first nine months of 2023, recorded the most significant shareholder equity compared to their fast-moving consumer goods (FMCG) counterparts.
Every company in Nigeria's net worth is determined by its shareholder's equity, which can also be described as the amount that will be distributed to shareholders in naira (#) if a company's total assets are liquidated, and all of its debts are repaid.
The companies analyzed in this published research include BUA Foods, Dangote Sugar Refinery, Nigerian Breweries, International Breweries, Unilever Nigeria, Nestle Nigeria, Nascon Allied Industries, Champion Breweries, and Cadbury Nigeria.
The latest financial statements of the companies show that the shareholders’ equity of BUA Foods was N255.6 billion, while Dangote Sugar and Nigerian Breweries recorded N125.9 billion and N122.5 billion, respectively.
The released financial statements of the company listed above reveal that the shareholder's equity of BUA Foods was N255.6 billion, while Dangote Sugar and Nigerian Breweries recorded N125.9 billion and N122.5 billion, respectively. On the list are International Breweries’ shareholders equity of N115.2 billion, Unilever Nigeria (N67.8 billion), Nestle Nigeria (N41.7 billion), Nascon Allied Industries (N27.4 billion), Champion Breweries (N11.04 billion), and Cadbury Nigeria (N2.87 billion).
Firm-By-Firm Analysis
BUA Foods
BUA Foods shareholders' equity stood at N255.6 billion for the first nine months of 2023, a significant increase from the corresponding year, which settled at N206.48 billion in 2022.The company's shareholders' equity was driven by share capital, which generated N9 billion; retained earnings produced N247.5 billion; and reorganization and other reserves generated N943.2 million.
BUA Foods cash and cash equivalents rose to N79.8 billion from N30.5 billion. The firm recorded earnings per share of N5.87 per share, up from N3.83 per share.
Dangote Sugar Refinery
Dangote Sugar Refinery shareholders' equity stood at N125.9 billion for the first nine months of 2023, a significant decrease from the corresponding year, which settled at N141.3 billion in 2022.The company shareholders' equity was driven by share capital, which generated N6.07 billion; retained earnings produced N113.6 billion, while non-controlling interest stood at N26.2 million.
Dangote Sugar Refinery's cash and cash equivalents declined to N159.2 billion from N169.8 billion. The firm recorded a loss per share of N2.22 per share, up from N2.04 per share.
Read more: https://www.investingport.com/dango...reweries-lead-in-largest-shareholders-equity/