Impact Of Working Capital Management On Corporate Profitability Of Nigerian Manufacturing Firms

Chapter Four

Data presentation and analysis 47

4.1 Introduction 47

4.1.1 Raw Data 47

4.2 Descriptive statistics 60

4.2.1 Descriptive statistics for the twenty two firms considered in the study 60

4.2.2 Food and Beverages sub –sector 61

4.2.3 Industrial and Domestic products sub- sector 62

4.2.4 Healthcare sub-sector 63

4.2.5 Building materials and chemical sub- sector 64

4.2.6 Breweries sub-sector 65

4.2.7 Packages sub-sector 66

4.2.8 Automobile and Tyre sub-sector 67

4.2.9 A cross sub- sector comparison 68

4.2.9 Food and Beverages 68

4.2.10 Industrial and domestic Sub-Sector 69

4.2.11 Health sub-sector 70

4.2.12 Building materials and chemicals 71

4.2.13 Breweries sub-sector 72

4.2.14 Packages sub-sector 73

4.2.15 Automobile and tyre sub-sector 73

4.2.16 All the sub- sectors in Nigeria manufacturing firms 74

4.3. Correlation Matrix 76

4.3.1 Discussion of sub-sectors Result 77

4.3.1 Food and Beverages. 77

4.3.2 Industrial and Domestic Products firms 78

4.3.3 Healthcare firms 79

4.3.4. Building material, chemical and paints 80

4.3.5 Breweries firms 82

4.3.6 Packaging firms 83

4.3. 7 Automobile and tyre firms 84

4.3.8 All manufacturing firms in Nigeria. 86

4.4 Discussion of individual Industry Results 87

4.4.1. Seven – up Bottling Company 91

4.4.2. Cadbury Nigeria Plc 88

4.4.3 Flour mill Nigeria Plc 90

4.4.4 Nestle food Nigeria Plc 92

4.4.5 Nigeria Bottling Company 93

4.4.6 First Aluminium Nigeria 94

4.4.7 Aluminium Extrusion Nigeria PLC 95

4.4.8 B.O.C. Case Nigeria PLC 97

4.4.9 Enamelware Nigerian PLC 98

4.4.10 Vita Foam Plc 100

4.4.11 Vono Product Nigeria Plc 101

4.4.12 Evans Medical Nigeria 102

4.4.13 May and Baker Nigeria 103

4.4.14 Pharma-Deko Nigeria Plc 104

4.4.15 Benue cement Nigeria Plc 105

4.4.16 Berger Paints Nigeria 106

4.4.17 Premier Paints Nigeria 107

4.4.18 Guiness Nigeria Plc 108

4.4.19 Nigeria Breweries Plc 109

4.4.20 Avon Nigeria Plc 110

4.5.2.21 Beta Glass Nigeria Plc 111

4.4.22 Incar Nigeria 112

4.4 Test of Hypotheses 113

4.5.1 Robustness test 118

4.5.2 Discussion of Findings 119

Chapter Five

5.0 Summary of findings, conclusion and Recommendations 120

5.1 Introduction 120

5.2 Summary of Research findings 120

5.2.1 Comparison of findings with Objectives of the study 120

5.3. Conclusion 124

5.4 Recommendations 124

5.5 Contribution to knowledge 125

5.6 Recommended Areas for further Research 125

Bibliography 127

Appendixes