Nestlé Nigeria posts higher revenue,  profit in  2018

Business News

In Summary

* The company posted a revenue of N 266.3 billion recording a growth of 9.1% over the previous year.

* Gross profit for the year stood at N 113.9 billion, compared to N 100.9 billion during the previous year.

* The Company posted N 60.6 billion as Results from Operating Activities in 2018 vs  N55.7  billion  during  the  previous  year.

* In addition to N20 per share interim dividend already paid, the Board proposed a final dividend of N38.50 per share for 2018 for approval at the company’s Annual General Meeting on 28th May 2019.

Commenting on the results, Mr. Mauricio Alarcon, Managing Director/CEO said, “We are pleased with our 2018 results considering the increasingly competitive business environment.

He said that the growth was driven by the continued loyalty of the company’s consumers as it focused on consistently delivering high quality, tasty and nutritious food products adapted to their preferences.

The discipline and dedication of our people also supported this business outcome.”

The company continued to invest in innovation to keep delighting consumers with its iconic brands.

The multi-cereal Nestlé Golden Morn Puffs fortified with iron was introduced during the year. In line with its purpose of enhancing quality of life and contributing to a healthier future, Nestlé Nigeria worked alongside stakeholders to execute projects aimed at improving livelihoods in communities connected to its operations while delivering value to its shareholders.

This is a principle called Creating Shared Value, (CSV).

The CSV projects include provision of access to clean drinking water, providing nutrition education, farmer capacity building and grain quality improvement through Feed the Future Nigeria and Nestlé Maize Quality Improvement Partnership.

2019 Outlook:

We look forward to next year with cautious optimism in view of the challenging business environment.

We will focus on leveraging our capabilities to deliver value to our consumers and our shareholders as we contribute to the growth of the local economy and to improving livelihoods within our communities.

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