Nestle Nigeria ends fiscal 2019 with higher revenue and profit


Nestle Nigeria Plc has reported earnings growth of 6% for the full year 2019. The food and beverage giant said that profit rose to N45.6bn from N43bn in 2018.

The company benefited from a 6.7% growth in revenue to N284bn. Nestle was also helped by operating profit rise of 19% to N72bn.

According to the company, the beverage segment which accounts for 38% of total sales grew by 10% to N108bn, with pre-tax profit of N25bn, a 45% increase. Beverage products include Milo, Chocomilo, Nido, Nescafe and Nestle Pure Life.

The food segment grew revenue by 4.7% to N176bn and a pre-tax profit of 8% to N47bn. Food products include Maggi, Cerelac, Nutrend, Nan, Lactogen and Golden Morn.

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