MAYBAKER ended 2021FY on a positive note as the firm’s topline sustained the significant growth witnessed in 2020. Despite the intense competitive nature of the pharmaceutical market, the pharmaceutical segment remained the main anchor of revenue growth, expanding by 27.33%YoY to NGN11.87bn (vs. NGN9.32bn in 2020FY). The firm’s performance was also supported substantially by volume growth and element of price increase on some pharmaceutical products. Revenue from the beverage division however declined for the second consecutive year (-51.98%) to NGN33.49mn (from NGN69.74mn in 2020FY).
