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.