Nestlé Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to its performance in the same period of 2022.
Gross profit also rose to N107.3 billion, an 34% increase over 80,205 earned in H1 2022. The Company posted a loss after tax of N49.9billion, a 280% decline over the same period in 2022.
The detailed financial results are available online at https://www.nestlecwa.com/en/investors/nigeria
Commenting on the results, Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, said, “I thank every member of our team for the unwavering
commitment and dedication which resulted in the significant increase in revenue and gross profit over H1 2022 despite the challenging business environment.
“Our profit after tax was, however, negatively impacted by the recent devalaution of the Naira, which necessitated the revaluation of our foreign currency obligations.
“Going into the second half of the year, we will continue to focus on optimising our operations to ensure the availability and accessibility of the nutritious food and beverages our loyal customers expect from us.“
Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the company has been delighting
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