Nestlé Nigeria attains N18bn profit in 3 months


By Kehinde Ibrahim Lagos

FOR the first quarter ended March 31, 2022, Nestle Nigeria Plc has declared profit after tax of N 18.0 billion.

According to the unaudited financial statements, the company recorded a revenue of N 110.2 billion against N 87.3 billion during the same period in the previous year, a top-line growth of 26.3%.

A statement issued by the company explained that the financial results were reviewed and approved by the Board of Nestlé Nigeria PLC during its meeting held on April 29, 2022.

Commenting on the results, the Managing Director and Chief Executive Officer of Nestlé Nigeria PLC, Mr. Wassim Elhusseini said, “On behalf of the management and staff of Nestlé Nigeria PLC, I am delighted to present this impressive performance of our company in the first quarter of 2022.

“I commend the efforts of the entire team at Nestlé Nigeria PLC, for continuing to thrive under the current difficult business environment.

“We know that the global economic situation and supply chain disruptions will continue to put more pressure on the already challenging business environment.

“However, we remain optimistic that we can continue to improve our business by empowering our people and ensuring continued supply of essential nutritious food and beverages to consumers.

“We will continue to focus on these two important areas while caring for our communities and business partners, and all collaborators across our value chains to sustain this growth throughout the year“.