Nestle Nigeria Plc, on Wednesday reported its full-year results for the period ending December 2016, which showed net profit decline by 67% to N7.9bn, down from N23.7bn in 2015.
The chocolate drinks and coffee maker blamed the drop in profit on a combination of the impact of naira devaluation which caused the company’s net finance cost to skyrocket to N16.7bn, from N4.4bn in the previous year and the effect of the expiration of its pioneer “tax” status.
Milk-based drinks maker Viju Industries Nigeria Limited has unveiled its new and improved drinks, packaged in 150ml, 300ml and 330ml PET bottles respectively.
According to the company’s management, the new improved milk drinks come in different range – 300ml is offered in chocolate, wheat and yoghurt flavours, while the fruits and flavour milk range are packaged in 150ml and 330ml PET bottles. The company adds that the new drink and package sizes will enable both children and adults have value for their money.
Fan Milk Nigeria Plc, a leading maker of frozen yoghurt and other dairy-based drinks has donated its products, as well as food items, toiletries and branded exercise books to the Modupe Cole Memorial Child Care and Treatment Home School in Lagos as part of its Corporate Social Responsibility and to celebrate this year’s Valentine’s Day.
