Nestlé Nigeria grows after tax profit by 43.5%, proposes N20 interim dividend

Nestlé Nigeria Plc. has announced a 43.5 percent profit after tax (PAT) increase in its financial results for 9 months period ending 30 September 2018.

For the period January to September 2018, the company recorded a profit of N33 billion as against N23 billion for the same period of 2017 on a 10 percent revenue growth amounting to N203.1 billion.

The Board of Nestlé in its meeting held on October 29th 2018 thus approved an interim dividend of N20 per share.

“Our growth is the result of our disciplined execution and investments in the expansion of our route to market; our marketing initiatives focused on nutrition awareness, as our consumers continue to trust us to deliver high quality, affordable, nutritious food products every day,” said Mauricio Alarcon, managing director and CEO of Nestlé Nigeria Plc.

Adding that “all of this is well supported by the dedication and professionalism of our people.”

Looking ahead, Alarcon said “to sustain our performance, we will continue to focus on creating an environment where our people can grow to their potential while delivering their best performance.”

He said the company which is driven by a purpose of enhancing quality of life and contributing to a healthier future, will continue to create value for all stakeholders across its value chain as “we source and deliver products adapted to local preferences.”