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Ghana Stock Exchange

Last update 31 Dec 2025

Fan Milk Ltd · FML.GH

Ghana · Consumer Staples · Food Products · GHS

Price history

Fan Milk Ltd is a Ghanaian consumer-products company focused on dairy, frozen dairy, ice cream, yoghurt, juice and related ready-to-consume products. Its portfolio includes frozen dairy brands, drinkable dairy products, ice cream, spoonable yoghurt and juice products sold through retail outlets, vendors and distribution networks. The company has historically built strong consumer recognition through affordable single-serve products and a wide cold-chain distribution model. Its business is tied to Ghanaian consumer spending, urban and peri-urban retail activity, cold-chain reliability, brand strength, route-to-market execution and input costs for milk powder, sugar, packaging and energy. Fan Milk also operates within a regional West African consumer market, which supports scale but requires consistent logistics and product quality. As a listed company, it gives investors exposure to branded fast-moving consumer goods with a dairy and frozen-products focus, where margins depend on volume growth, distribution efficiency, pricing power and cost control.

Fundamentals

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Metric  (GHS, M) 2025 2024 2023 2022 2021
Revenue Total Revenue 836
EBITDA
EBIT 87
Net income Net Income
Operating margin 10%
Net margin