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.”
