Nestlé Nigeria Plc on July 26, 2019 announced its financial results for the half year ended June 30, 2019, recording a revenue of N 141.9 billion for the period January to June 2019, and a growth of 4.9 per cent over same period in the previous year.
The Company reported profit after tax of N 26.2 billion during the first half of 2019.
According to the unaudited results, Nestlé Nigeria posted a revenue of N 70.9 billion in Q2 2019, up from N 67.8 billion in Q2 2018.
Managing Director and CEO of Nestlé Nigeria PLC, 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 the year, 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.
“In line with our purpose which is enhancing quality of life and contributing to a healthier future, we will remain focussed on enabling thriving and resilient communities through local sourcing, expanding the commercialisation of our food and beverages to deliver accessible and affordable nutrition to more people and strengthening our value chain to gain further efficiencies.”