Daily Archives: October 30, 2018

Lower finance charge, sales growth lifts Nestle Nigeria’s 9-months profit

Nestle Nigeria Plc reported a net profit growth of 44% in the nine months to the end of September.

The maker of Milo chocolate drink said that profit hit ₦33bn in nine months, with the growth accelerating in the third quarter, helped by an 85% drop in net finance cost to ₦1.27bn from ₦8.6bn.

AB InBev profit takes a knock amidst sales decline

Anheuser-Busch InBev said its profits for the third quarter of 2018 fell 37.4% to $1.6bn from $2.6bn in the prior year, and declined 11.7% to $5.2bn from $5.9bn in the nine months to the end of September. The drop came amidst a 10% drop in third quarter revenue to $13.2bn and a 3.5% decrease in nine months sales to $40.4bn.