Nestle grows revenue by 10%, to pay N20/share interim dividend

NESTLE Nigeria Plc has grown it’s revenue by 9.7%, according to the company’s financial results for nine months period ending 30 September 2018.

For the period January to September 2018, the company recorded a revenue of N203.1 billion, a growth of 9.7 per cent over the same period in the previous year and a profit after tax of N33.1 billion.

According to the unaudited financial statements released to the Nigerian Stock Exchange (NSE), Nestlé Nigeria Plc posted a revenue of N 67.8 billion in Q3 2018, up from N 63.3 billion in Q3 2017.

Also the Board of the company, in its meeting held on October 29th 2018, has approved an interim dividend of N 20 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. All of this is well supported by the dedication and professionalism of our people,” said Mr Mauricio Alarcon, Managing Director and CEO of Nestlé Nigeria PLC.

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“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. Driven by our purpose of enhancing the quality of life and contributing to a healthier future, we continue to create value for all stakeholders across our value chain as we source and deliver products adapted to local preferences.”