Tag Archives: Nestle Nigeria Plc

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.

Nestle Nigeria sustains growth as half year profit rise 30%

Nestle Nigeria Plc, said that its profits grew 30% to ₦21.4bn in the six months to the end of June 2018. In the previous year, the food and beverage firm recorded a profit of ₦16.5bn.

The growth in profit was helped by an 11% growth in sales to ₦135bn, from ₦121.9bn in 2017. The beverage segment which accounted for 37% of group sales recorded a 15% rise in sales to ₦50.1bn, while the food segment which accounted for 63% of group sales saw a 9% sales lift to ₦85.1bn.

Nestle Nigeria sees immense export potential in AFCFTA

Nestle Nigeria Plc has said it sees huge export opportunities in the African Continental Free Trade Agreement (AFCFTA).

In a media briefing in Lagos recently, the Head of Communications and Public Affairs, Nestle Nigeria Plc, Gloria Nwabuike, said, there is a lot of potential in the AFCFTA.

Nestlé Nigeria MD, Mauricio Alarcon appointed second VP of NECA

Nestlé Nigeria’s Managing Director and Chief Executive Officer, Mr. Mauricio Alarcon has been appointed as second Vice President of Nigeria Employers Consultative Association (NECA). The announcement was made at the Annual General Meeting (AGM) of the association in Lagos on Tuesday. Mr. Alarcon has been involved in the direction of the association for the past one year as a member of governing council. He will play a key role in the governing council and management committee.

Nestle Nigeria lists initiatives taken to reduce plastic waste as it marks World Environment Day

Nestle said it has set a bold global ambition of making 100% of its packaging either recyclable or re-usable by 2025, as part of its pledge to play an active role in combating plastic pollution.

The company said it aims to help consumers dispose of used materials in the right way, while promoting a market for recycled plastics by continuing to increase the proportion of recycled plastics in its packaging.

Nestle partners FG to launch “Nestle for Healthier Kids” global Initiative

Nestle Nigeria plc, with assistance from the Federal Government has launch its “Nestle for Healthier kids” in Nigeria, a global initiative the food and beverage company unveiled on May 15, 2018 to fight acute malnutrition in children.

The programme was unveiled in Abuja to commemorate the International Day of Families, which includes further development of healthier products and advice for families on nutrition and exercise and aims at helping 50 million children worldwide to lead healthier lives by 2030.

Nestle Nigeria confident about the future

Food and beverage giant Nestle Nigeria plc, has said that it is optimistic the ongoing economic reforms and diversification agenda of the Federal government will lead to better performance and returns to shareholders in future years.

This was the view of the company’s chairman, David Ifezulike, while addressing Nestle’s shareholders at its Annual General Meeting (AGM) held on Tuesday in Lagos. He said that the current economic trend eases production constraints in manufacturing and agriculture and key government reforms continue to diversify the economy, an all-around improvement in the economy is expected.

Soaring finance cost puts a squeeze on Nestle Nigeria’s Q1 profit

Nestle Nigeria Plc, reported its first quarter results for 2018 on Friday, with the food and beverage company posting a net profit of ₦8.6bn, from ₦8.4bn in the previous year, a nearly 3% increase.

The company blamed the nearly flat rise in earnings on rising finance cost which includes interest expense and foreign exchange loss. Finance charge grew 182% to ₦879 million.

Nestlé Nigeria unveils GOLDEN MORN® Puffs breakfast cereal

Nestlé Nigeria Plc, announced on Wednesday it had introduced a new breakfast cereal, GOLDEN MORN® Puffs. Made from grains and cereals, the company explained that it provides families with even more choices of tastier, healthier food. It noted that GOLDEN MORN® Puffs is proudly produced in Nigeria for Nigerians. It is fortified with vitamins and iron to contribute to the efforts to address micronutrient deficiency in the country.

Nestle Nigeria restates its commitment to Ogun State

Nestle Nigeria Plc, has reaffirmed its resolve to the development of Ogun State, host of two of its three factories in Nigeria.

The consumer goods and beverage company restated its commitment while marking the 4th Edition of Ogun State Investors Forum, which is a collaborative effort between the company and the host government.