Nestle Nigeria Plc increases revenue by 5.2% in Q1:2019

Nestlé Nigeria Plc has posted revenue of N 71.0 billion recording growth of 5.2 per cent over the previous year, just as its Gross profit for the period stood at N 31.5 billion, compared to N 25.8 billion during the previous year.

According to the first quarter result submitted to the Nigerian stock Exchange (NSE), the company made a net profit of N 12.8 billion as compared to N 8.6 billion during same period of the previous year.

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In the period under review the company continued its emphasis on creating demand as well as strengthening brand loyalty programs to increase market penetration, just as it continued to focus on Creating Shared Value for society and its shareholders by delivering high quality nutritious products to consumers and contributing to the growth of the local economy through local sourcing and increasing access to clean drinking water in the communities where it operates.

Commenting on the results, Mr. Mauricio Alarcon, Managing Director & CEO of Nestlé Nigeria Plc said, “We are pleased with the sustained growth of our company, the loyalty of our consumers and the discipline and dedication of our people to provide tastier and healthier foods and beverages,”

Looking forward to the rest of 2019, Mauricio noted that the company remained optimistic that its current business model would keep delivering satisfactory results to shareholders and to society in line with its Creating Shared Value principle.

“Providing high-quality and affordable nutritious products which meet the needs and preferences of our consumers will remain our priority as we help build thriving, resilient communities through sustainable local sourcing and continuous product innovation,” he said.