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Nestlé Nigeria Announces N261bn Revenue, N25/Share Interim Dividend for Q3

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Nestlé Nigeria PLC has announced its financial results for the 9-month period ending 30 September 2021.

For the period January to September 2021, the company recorded a revenue of N261.6 billion against a revenue of N 212.7 billion during the same period in the previous year. The Company reported a profit after tax of N33.6 billion during the first nine months of 2021.

According to the unaudited financial statements of the Company, Nestlé Nigeria PLC posted a revenue of N 90.2 billion and profit after tax of N 11.9 billion in Q3 2021.

The Board of Nestlé Nigeria PLC in its meeting held on 22 October 2021 approved an interim dividend of N25 per share.

Commenting on the results, the Managing Director and CEO of Nestlé Nigeria PLC, Mr. Wassim Elhusseini said, “We are pleased with the Q3, 2021 performance of our Company which is again, a testament to the dedication and commitment of our people to ensure that we continue to deliver value for our shareholders, our communities and our consumers.”

“It is clear that the business environment will continue to change rapidly during this COVID-19 era. We will, therefore, continue to adapt to new ways of working, ensuring that our business remains agile to continuously deliver our promise of affordable nutritious food and beverages to meet the needs of our consumers.”

The last quarter of 2021 offers Nestlé Nigeria the opportunity to build on the achievements of the first three quarters. The Company will remain focused on ensuring the wellbeing of its people and on ensuring the continuous provision of high-quality nutrition to consumers across the country.

Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the company has been delighting consumers around Nigeria by consistently delivering high quality nutritious food.

With a staff strength of over 2,200 direct employees, 3 manufacturing sites, 7 branch offices and a head office located in Lagos, the company produces and markets several iconic brands including NESTLÉ PURELIFE, GOLDEN MORN, MILO, MAGGI and NESCAFÉ.

Nestlé’s purpose is to unlock the power of food to enhance quality of life for everyone today and for generations to come.

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