WORKING CAPITAL MANAGEMENT AND FINANCIAL PERFORMANCEOF LISTED MANUFACTURING COMPANIES IN NIGERIA: EVIDENCE OF CHAMPION BREWERIES PLC

ABSTRACT This research was carried out to examine the influence of working capital management and financial performance of listed manufacturing companies in Nigeria: Evidence of Champion Breweries Plc. A ten years data set were adopted. In order to achieve the objectives of the study, an Ex-post facto research design was used involving manual generation of data from the annual report of Champion Breweries Plc. The study period was from 2014 to 2023 financial year. The actual values of working capital management components were generated for each of the objectives. Data obtained were analyzed using descriptive and inferential statistics specifically through simple regression techniques. working capital management was proxy by cash conversion cycle, cash collection policy and debt repayment period while profitability was proxy by return on asset. Findings revealed that, Cash conversion cycle significantly influence on return on asset of listed manufacturing firms in Nigeria. It was concluded that a well-managed working capital enables the firm to meet its financial obligations It was suggested that, listed manufacturing companies should make an effort to consistently keep their liquidity ratio high in order to pay their short-term financial obligations, firms should promote best practices for maintaining optimal working capital investment level to enhance their performance and sustain growth and debt repayment period should be extended to allow for a longer period of repayment, higher amount of loans, and low interest.