Business

Nestle Nigeria Plc posts N351.8bn revenue in 2021

Nestle Nigeria Plc has 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.

The Star

Editor

Recent Posts

NNPCL: Adulterated petrol in jerrycans not from our retail outlet

The Nigerian National Petroleum Company Limited has debunked a viral video alleging that the NNPCL…

18 mins ago

Naira trades N1,639/$ at official market

The naira appreciated at the official market on Thursday, November 7, 2024, trading at N1,639.50…

33 mins ago

TCN: Why national grid collapsed

The Transmission Company of Nigeria (TCN) has explained the reason behind the collapse of the…

12 hours ago

Police officer dies in Lagos-Ibadan expressway accident

A police officer has been confirmed dead in an accident involving a truck and two…

12 hours ago

FG unveils free cesarean sections for women to combat maternal mortality

The Federal Government has unveiled a nationwide free cesarean section initiative aimed at reducing Nigeria’s…

16 hours ago

National grid collapses for second time in 3 days

The national grid has again collapsed, leading to a nationwide blackout. This is the second…

18 hours ago

This website uses cookies.