Home Stocks & Shares Nestle Nigeria’s revenue hits N211.3bn N33.1b Q3

Nestle Nigeria’s revenue hits N211.3bn N33.1b Q3

Equity market opens week in positive trend, gains N21bn


Nestlé Nigeria Plc said it’s revenue for the third quarter ended September 2019 stood at N211.3 billion, up by 4.0 per cent when compared to N203,134,728 billion recorded in 2018.

According to the company’s result released on the floor of the Nigerian Stock Exchange (NSE), profit for the period also increased to N36,841,330 billion compared to N33,118,287billion recorded within same period in 2018.

Following the performance, Board of the company at its meeting held on October 29, 2019 approved an interim dividend of N25 per share.

Managing Director/ Chief Executive Officer of Nestlé Nigeria Plc, Mr Mauricio Alarcon said: “We are pleased to have again, recorded revenue growth in the increasingly volatile business environment.

“This indicates the strength of our brands and our consumers’ appreciation of the high quality affordable nutritious food and beverages we offer to Nigerians every day.

“As we approach the last quarter, we will maintain focus on efficient execution while we accelerate our marketing investments to expand the accessibility of our products,’’ he said.

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