May & Baker targets N41bn revenue in 2025
The pharmaceutical giant, May & Baker Nigeria Plc, says it is targeting a revenue of N41 billion before the end of 2025
The Managing Director of the company, Mr Patrick Ajah, made this known at the company’s 2025 Customer Forum on Thursday in Lagos.
The News Agency of Nigeria reports that the theme of the programme was: “Consolidate – Beyond Boundaries.”
While delivering his welcome speech, Ajah said the company in the last four years, had been able to grow its revenue generation by 47 per cent.
He said the company started with N9.3 billion in 2020 to close at N28.9 billion in December 2024.
Ajah, who appreciated the company’s distributors and customers for their steadfast patronage and support, said that the 2024 business year was quite challenging.
“We know how difficult and challenging the country has been and it has been quite difficult getting the raw materials. Some companies that cannot withstand the challenges have shut down, while some have downsized.
“Despite these economic challenges, our business has not only survived, but, it grows. A classical example of that is, that in the last four years, we have tripped our revenue.
“When I got into the office in 2021, the turnover stood at N9.3 billion, but we closed the business in December last year at N28.9 billion, representing a 47 per cent increase. So, at a time when the economy of the country is growing by three per cent, we grew our business by 47 per cent, and this is all because of the collaboration we have been getting from you – the customers.
“So, this year, we set for ourselves another auspicious target, and our belief is that because of the plans that we have, we are optimistic that by the end of this year, this business is going to cross N41 billion in revenue generation. I believe with your efforts and support as usual, we are going to make that happen,” Ajah said.
He said the company had launched a new brand of product – Multamin-Plus to boost its market share.
Ajah said the newly introduced Multamin-Plus (Amino Acids & Multivitamins syrup) was carefully prepared to meet the international standards and recommendations of the World Health Organisation.
He described the multivitamin syrup as a new improved product, with the added advantage of containing Selenium and Taurine that other Multivitamin syrups in the market do not contain.
The Head, of Marketing and Sales, at May & Baker, Mr Obinna Emeribe, said distributors and customers were an integral part of the company.
Emeribe thanked them for their unwavering support and commitment to the company.
He noted that the company made N25.5 billion in sales in 2024, saying that it aimed to grow to N38.5 billion in the next year.
According to him, May & Baker unveiled about seven new products in 2024, which are still at a very high demand level in the market presently and accounting for more sales.
On the lookout for 2025, Emeribe said the company was targeting to generate N38.5 billion from sales.
“The distributors and customers are integral parts of May & Baker company; they contributed a greater per cent of the revenue generated in 2024 that made us remain in business.
“For 2025, we look forward to more robust business operations as we target N38.5 billion in sales.
“The seven new products we introduced in 2024, are all making way in the market presently, as we plan to unveil more.
“We are going to screen over 500 new diabetic patients, who will eventually patronise our products and equally add to the sales.
“So, let’s join hands together to consolidate beyond boundaries in 2025,” Emeribe said.
Mr Maxwell John, a customer and distributor, thanked the company for its continuous efforts and commitment to growing the business despite the economic challenges.
John, however, urged the company to improve its delivery system to ensure promoted delivery of goods to the customers.
The event featured the presentation of ‘Awards of Excellence’ to some outstanding distributors and customers of May & Baker.
(NAN)
