Nestlé Nigeria Plc has announced its financial results for the year 2021.

Nestlé Nigeria Plc has announced its financial results for the year 2021.

by Arikawe Femi
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Nestlé Nigeria Plc has announced its financial results for the year 2021.

 

The company posted a revenue of N351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N 132.4 billion, compared to N119.2 billion during the previous year.

The Company posted profit after tax of N40.0 billion for the year. The detailed financial results are published on Nestlé’s website.

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

 

Results: N’000

 

YEAR REVENUE COST OF 

SALES

GROSS

 PROFIT

2020 287,084,087 167,872,616 119,211,471
2021 351,822,329 219,419,757 132,402,572

MARKETING 

AND 

DISTRIBUTION 

EXPENSES

ADMINIS

TRATIVE 

EXPENSES

RESULTS 

FROM 

OPERATING 

ACTIVITY

2021 43,843,396 10,910,269 64,457,806
2020 48,097,581 11,881,844 72,423,147

FINANCE

COSTS

FINANCE 

INCOME

NET FINANCE 

COSTS

2020 4,426,686 646,546 3,780,140
2021 12,606,983 2,059,782 10,547,201

PROFIT 

BEFORE 

INCOME TAX

INCOME TAX 

EXPENSES

PROFIT FOR 

THE PERIOD

2020 60,677,666 21,426,418 39,251,248
2021 61,875,946 21,826,282 40,049,664


Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, said, “We commend everyone in our organisation for their contributions to the attainment of this impressive results in these 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.”

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