Nestlé Nigeria grows revenue 27% in 2022

By Cynthia Ezekwe 

Nestlé Nigeria Plc posted a revenue growth of N446.8 billion in 2022, a 27.0 per cent growth against N351.8 in 2021 generated in 2021.

  The publicly listed food and beverage specialty company disclosed this in its 2022  in its 2022 financial results to reflect a strong performance in 2022 compared to the preceding year.

According to the financial results, gross profit for 2022 stood at N155.8 billion, an18.2 per cent  increase over 2021, while profit after tax stood at N48.9 billion, which represents a 22.3 per cent  increase over 2021.

Commenting on the results, Wassim Elhusseini, managing director and CEO of Nestlé Nigeria Plc, congratulated staff and managers of the company whose unwavering commitment, dedication and ingenuity drove the excellent results achieved in 2022.

The managing director expressed his delight over the team’s ability to continue to achieve so much amid the current challenging business environment, stating that it has encouraged the company’s  commitment to deliver value for its shareholders,consumers and host communities in which we operate.

 “In 2023, we will continue to work to ensure the availability of affordable nutrition for the individuals and families who depend on us to nourish their families daily. We know that it will be a challenging year, with the general elections and the associated charged political environment as well as the disruptions in economic activities experienced with the change of some denominations of the Naira,’’ he said.

He further added that the company’s priority remains the wellbeing of the people, the consumers, and its  host  communities as well as  enhancing food quality to improve the wellbeing of individuals and generations to come.