Nestle Nigeria generates N203.1b revenue, posts N33.1b profit in Q3

Nestle Nigeria said it generated N203.1 billion in the third quarter of 2019. This shows an increase of 4.0 per cent when compared to N203,134,728 billion in 2018. Profit for the period also increased to N36,841,330 billion compared to N33,118,287billion attained within same period in 2018.

Based on the performance, the Board of the company at its meeting held on October 29, 2019 approved an interim dividend of N25 per share. Managing Director and CEO 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.’’