EFFECT OF FIRM CHARACTERISTICS ON PROFITABILITY OF QUOTED CONSUMER GOODS COMPANIES IN NIGERIAN STOCK EXCHANGE

The main objective of this study is to examine the effect of firm characteristics on profitability of quoted companies in Nigeria. The specific objectives were to examine the effect of firm size on profitability of quoted companies in Nigeria, to determine the effect of firm age on profitability of quoted companies in Nigeria, and to examine the effect of firm leverage on profitability of quoted companies in Nigeria. This study adopted the expost facto research design. The population of the study consists of the twenty two (22) consumer goods companies listed on the Nigerian Stock Exchange as at 31st December, 2021. Judgmental sampling technique was adopted for the study. The study adopted 5 companies as the sample size. For the purpose of this study, only secondary method of data collection was utilized which was derived from the audited financial report of the selected firms. The data was analyzed using STATA 15 statistical package. The study found thai that firm size has a positive significant effect on profitability of listed consumer goods firms in Nigeria. It was also revealed that age of consumer goods companies is not significant in explaining and predicting the profitability of listed consumer goods firms in Nigeria within the study period. Furthermore, the study found that leverage is negatively and significantly affecting the profitability of listed consumer goods firms in Nigeria. It was recommended that consumer goods firms in Nigeria should not only be focused in growing their sales alone while abandoning other alternatives of boosting profits (such as investments) that could improve their profitability.