WORKING CAPITAL MANAGEMENT AND PROFITABILITY OF LISTED MANUFACTURING COMPANIES IN NIGERIA: EVIDENCE OF CHAMPION BREWERIES PLC.

This study is on working capital management and profitability of listed manufacturing companies in Nigeria (Evidence of champion breweries Plc. Uyo). Inadequate to receivable turnover ratio, inventory turnover and current ratio has constituted a menace to Champion Breweries Plc for the year under review. To proffer solution to the problem, a survey and ex-post facto designs were adopted in the study; judgmental sampling technique was used in the study. Taro Yamane technique was used to select the sample size of 29 for the study. The study adopted primary and secondary sources of data collection. Person’s Product Moment Correlation Co-efficient was used to test the hypothesis for the study. Findings revealed that receivable turnover ratio has a positive influence on the working capital management and profitability of champion breweries Plc. Also, there is a significant influence between working capital management and profitability of manufacturing company with reference to Champion Breweries Plc in Nigeria for the period reviewed receivable turnover ratio, payable turnover ratio and inventory turnover ratio. In conclusion, inventory turnover ratio and current ratio has a significant influence with current ratio for the year. Also inadequate and inexperience staff constitute a threat to working capital management and profitability of manufacturing companies in Nigeria. It was recommended that inventory turnover ratio should be managed by expert to generate more current ratio; receivable turnover ratio should be shortened to enhance adequate liquidity. Payable turnover ratio should be handled b expert in order to avoid short comings in the future especially in the management of project. The experts should be seen as a factor to boost the company’s performance.