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

The aim of this study was to examine Working Capital Management and Financial performance of Listed Manufacturing Firms in Nigeria with reference to Champion breweries Pic. In order to this effectively execute the study, a survey and expost facto research designs were adopted. The population consisted of 27 staff of Champion breweries Pic, Uyo, Akwa Ibom Stale. Primary and secondary methods of data collection were used in gathering relevant data for this research work. The primary source adopted was the use of administered questionnaire while the secondary source adopted the use of annual report from the Champion Breweries Pic for the period of 2014-2023. Purposive Sampling technique was used to select a sample size of (25) respondents for the study as determined using Taro Yamane formula. Data were coded and analyzed using manual content analysis and simple percentages and tables were used analyzed the responses from respondents. Regressional analysis was used to test the hypotheses were study. Findings reveal that there is significance relationship between of cash and . equivalent, loan and advances and demand deposit on return on equity of champion Breweries Pic. The findings also reveal that the effects of cash and cash equivalent on the Return on Equity of Champion Breweries Pic include: excessively cash holdings can lead to underutilized assets and a lower ROE, it will increase shareholders' equity, it affect the numerator (net income) of the ROE equation indirectly increase in cash and cash equivalents will increase the total assets and, consequently, shareholders' equity. It was recommended that managers should strive to reduce the time it takes for debtors to pay their bills since this will enhance cash flow, working capital, and profitability.