Nestle Nigeria Half Year Profit Up By 22 Percent

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Managing Director of Nestlé Nigeria Plc, Mr. Mauricio Alarcon.

Nestle Nigeria Plc was able to sustain its half-year profit after tax growth for the period ended June 30, 2019, with 22 percent increase, from N21,457 billion in 2018 to N26246 billion in 2019. The result shows that revenue was up by 5 percent from N135,295 billion in 2018 to N141,909 billion in 2019.

Profit before tax was also up by 27 percent from N31,872 billion in 2018 to N40,436 billion in the period under consideration. Commenting on the result, the Managing Director of Nestlé Nigeria Plc, Mr. Mauricio Alarcon, said, “Our Company’s growth is the result of consistent investment behind our brands, intensified efforts to communicate with our consumers and continuous investment in route to market to deliver better value to consumers. I want to thank our consumers for their trust and continued loyalty as well as commend the discipline and dedication of our people for driving sustainable, profitable growth.”

On the outlook for the second half of 2019, Alarcon said, “Amid a challenging economic context, we are confident in our company’s capacity to innovate to keep delighting our consumers with nutritionally superior products and foster our people’s ability to win. In turn, these investments will continue to Create Shared Value for our shareholders and for the people of Nigeria.”

He added that “In line with our purpose which is enhancing quality of life and contributing to a healthier future, we will remain focused on enabling thriving and resilient communities through local sourcing, expanding the commercialization of our food and beverages to deliver accessible and affordable nutrition to more people and strengthening our value chain to gain further efficiencies.”

Nestlé Nigeria Plc began trading operations in Nigeria in 1961 and has today grown into the leading food and Beverage Company in West Africa. The principal activities of the Company continue to be the manufacturing, marketing and distribution of food products including purified water throughout the country.

The company also exports some of its products to other countries within and outside Africa. It employs around 2,400 people and has three world-class factories. The company high range of quality brands includes, NESTLE PURE LIFE, GOLDEN MORN, MILO, MAGGI, NESCAFÉ and CERELAC.

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