BREAKING - Nestle posts N351.8bn revenue in full year result

 

Nestlé Nigeria Plc has announced its financial results for the financial year 2021, posting a revenue of

N 351.8 billion .The amount represents 22.6 per cent growth over N287.084 billion reported in previous year.

Gross profit for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year.

The company finance income up from N646.546 million in the comparative period to N2.059 billion while finance cost moved from negative N4.426 billion in 2020 to negative N120.606 billion at the end of December 2021.

The Company posted profit after tax of N 40.0 billion for the year. In addition to N 25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of N50.50 for 2021. The company said that this proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29th June 2022.

Commenting on the results, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, Mr. Wassim Elhusseini, said , “We commend everyone in our organisation for their contributions to the attainment of these impressive results in these challenging times. It is a testament of the consistent dedication and commitment of our employees to ensure that we continuously deliver value for our shareholders, our consumers, and the communities in which we operate. “