Fast Moving Consumer Goods (FMCG) giant, Nestlé Nigeria Plc on Friday April 29, 2022 announced its financial results for the first quarter of 2022, ending 31 March 2022. recording a revenue growth of N 110.2 billion against N 87.3 billion that was reported same period in the previous year, a top-line growth of 26.3%.
A brief highlight of the company key financial shows that profit after tax for the period stood at N 18.0 billion. The financial results were reviewed and approved by the Board during its meeting held on April 29, 2022.
Commenting on the results, the Managing Director and CEO of Nestlé Nigeria PLC, Mr. Wassim Elhusseini said, “On behalf of the management and staff of Nestlé Nigeria PLC, I am delighted to present this impressive performance of our company in the first quarter of 2022. I commend the efforts of the entire team at Nestlé Nigeria PLC, for continuing to thrive under the current difficult business environment”.
Adding that “We know that the global economic situation and supply chain disruptions will continue to put more pressure on the already challenging business environment. However, we remain optimistic that we can continue to improve our business by empowering our people and ensuring continued supply of essential nutritious food and beverages to consumers. We will continue to focus on these two important areas while caring for our communities and business partners, and all collaborators across our value chains to sustain this growth throughout the year.”
Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the company has been delighting consumers around Nigeria by consistently delivering high quality nutritious food.
With a staff strength of over 2,200 direct employees, 3 manufacturing sites, 7 branch offices and a head office located in Lagos, the company produces and markets several iconic brands including NESTLÉ PURELIFE, GOLDEN MORN, MILO, MAGGI and NESCAFÉ. Nestlé’s purpose is to unlock the power of food to enhance quality of life for everyone today and for generations to come.
