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Friday, September 30, 2022

Nestlé Nigeria Reports Revenue up 22.6% to N351.8 billion for 2021

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Nestlé Nigeria Plc has announced its financial results for the year 2021.

The company posted a revenue of N 351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N 132.4 billion, compared to N119.2 billion during the previous year.

The Company posted profit after tax of N 40.0 billion for the year. The detailed financial results are published on Nestlé’s website.

In addition to the N25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of N50.50 for 2021. This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29th June 2022.

Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, said, “We commend everyone in our organisation for their contributions to the attainment of this impressive results in these challenging times.

It is a testament of the consistent dedication and commitment of our employees to ensure that we continuously deliver value for our shareholders, our consumers, and the communities in which we operate.“

“In 2022, our focus remains on ensuring the safety and wellbeing of our employees, as well as providing affordable nutrition to enable consumers to nourish their families daily, while we work together to benefit mankind and our planet.

We will continue to push the boundaries of what is possible with foods, beverages, and nutritional solutions to enhance quality of life and contribute to a healthier future for everyone today and for generations to come.”

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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