Nestlé Nigeria’s revenue hits N351.8bn in 2021

COMFORT EKELEME, BUSINESS EDITOR

Nestlé Nigeria Plc has said its revenue for the year 2021 stood at N351.8 billion.

According to its financial results for the year 2021, the N 351.8 billion represents a 22.6per cent growth over the previous year.

Gross profit for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year. The Company also posted a profit after tax of N 40.0 billion for the year.

In addition to N 25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of N 50.50 for 2021.

This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29th June 2022.

Commenting on the results, Managing Director/Chief Executive Officer of Nestlé Nigeria, Mr. Wassim Elhusseini said, “We commend everyone in our organisation for their contributions to the attainment of these impressive results in these challenging times. It is a testament to 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 the quality of life and contribute to a healthier future for everyone today and for generations to come,” he said.