Home Business & Economy Nestlé Nigeria Plc records N141.9bn revenue in H1 2019

Nestlé Nigeria Plc records N141.9bn revenue in H1 2019

COMFORT EKELEME

Nestlé Nigeria Plc has announced its financial results for the half year ended 30 June 2019, saying its revenue for the period January to June 2019 stood at N 141.9 billion, a growth of 4.9per cent over same period in the previous year.

Also, the Company reported profit after tax of N 26.2 billion during the first half of 2019.

According to the unaudited results, Nestlé Nigeria posted revenue of N 70.9 billion in second quarter of 2019, up from N 67.8 billion in second quarter of 2018.

Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, Mr. Mauricio Alarcon, said, “Our Company’s growth is the result of consistent investment behind our brands, intensified efforts to communicate with our consumers and continuous investment in route to market to deliver better value to consumers. I want to thank our consumers for their trust and continued loyalty as well as commend the discipline and dedication of our people for driving sustainable, profitable growth.

On the outlook for the second half of the year, Mr. Alarcon said, “Amid a challenging economic context, we are confident in our company’s capacity to innovate to keep delighting our consumers with nutritionally superior products and foster our people’s ability to win. In turn, these investments will continue to Create Shared Value for our shareholders and for the people of Nigeria.

“In line with our purpose which is enhancing quality of life and contributing to a healthier future, we will remain focused on enabling thriving and resilient communities through local sourcing, expanding the commercialization of our food and beverages to deliver accessible and affordable nutrition to more people and strengthening our value chain to gain further efficiency,” he said.

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