Nestle Nigeria’s net profit rise 7% for full Year 2015 amid persistent headwinds

Nestle Nigeria, makers of a wide range of food and beverage products such as Milo, Cerelac, Nescafe coffee, among others released its full year 2015 financial results today showing a 7% rise in net profit to N23.7bn, from N22.2bn in 2014.

The company also saw its sales revenue rise by 6% to N151bn, from N143bn recorded in the previous year.

Net profit was helped by a lower finance cost of N4.4bn in the period under review, compared to N4.7bn from the previous year.

Nestle appears to have turned the corner to higher growth despite a persistent weak consumer demand caused by higher inflation, as the consumer product company had been facing macro-economic headwinds and competition in the previous quarters.

Nestle Nigeria Plc manufactures and markets a range of products in two segments, food and beverages. Food segment includes Maggi, Cerelac, Nutrend, Nan, Lactogen and Golden Morn. Beverages include Milo, Choco Milo, Nido, Nescafe Coffee and Nestle Pure Life bottled water.

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