Optimizing Sales Revenue to Enhance the Profitability Growth of Listed Brewery Companies in Nigeria (2011-2020)

Abstract

This study examined the optimization of sales revenue to enhance the profitability growth of listed brewery companies in Nigeria. The population of the study is made up of the seven (7) brewery firms listed on Nigerian Stock Exchange. A sample of three (3) firms was purposefully selected. The study adapted an ex-facto design and used secondary source of data to obtain data from the annual accounts and reports of the firms between 2011 and 2020. The data gathered were analyzed using correlation analysis and ordinary least square regression model. Findings from the study revealed that the co-efficient of return on sales is positively and significantly signed (0.143097, P-value of 0.0014 < 0.05). The study concluded that sales revenue has a positive relationship with the profitability growth of listed breweries firm in Nigeria The study recommended that the managements/ managers of breweries firms should look in to advertising strategies that can exploit market to increase their turnover.