Nestle Nigeria Plc posts N351.8bn revenue in 2021

Nestle Nigeria Plc says it recorded revenue of N351.8 billion as at the year ended Dec. 31, 2021.

The company said this in a statement signed by Mrs Victoria Uwadoka, Corporate Communications and Public Affairs Manager, on Wednesday in Lagos.

The figure represents 22.6 per cent growth over the N287.08 billion posted in 2020.

According to the beverage company, its gross profit for the year stood at N132.4 billion, compared to N119.2 billion recorded in 2020.

The company posted a profit after tax of N40 billion for the year as against the N39.25 billion in 2020.

According to the company, in addition to the N25 per share interim dividend paid in December 2021, the board proposed an additional dividend of N25.50 per share making for a total dividend of N50.50 for 2021.

It said its proposed dividend would be submitted for approval at the company’s Annual General Meeting on June 29.

Commenting on the results, Mr Wassim Elhusseini, Managing Director and CEO of Nestle Nigeria Plc, commended everyone in the organisation for their contributions to the attainment of the impressive results, especially in the challenging times.


“It is a testament of the consistent dedication and commitment of our employees to ensure that we continuously deliver value for our shareholders, our consumers, and the communities in which we operate.

“In 2022, our focus remains on ensuring the safety and wellbeing of our employees, as well as providing affordable nutrition to enable consumers to nourish their families daily, while we work together to benefit mankind and our planet.

“We will continue to push the boundaries of what is possible with foods, beverages, and nutritional solutions to enhance quality of life and contribute to a healthier future for everyone today and for generations to come,” Elhusseini said.



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