Nestlé Nigeria 2021 Full Year Financial Results

   

Nestlé Nigeria 2021 Full Year Financial Results 

Nestlé Nigeria Plc announced its financial results for the year 2021. The company posted a revenue of N 351.8 billion recording 22.6% 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 posted profit after tax of N 40.0 billion for the year. The detailed financial results are published on Nestlé’s website. 

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.

Results:

2021

2020

 

N’000

 

N’000

Revenue

351,822,329

287,084,087

Cost of Sales

-219,419,757

-167,872,616

Gross Profit

132,402,572

119,211,471

Marketing and Distribution expenses

-48,097,581

-43,843,396

Administrative expenses

-11,881,844

-10,910,269

Results from operating activities

72,423,147

64,457,806

Finance income

2,059,782

646,546

Finance costs

-12,606,983

-4,426,686

Net finance costs

-10,547,201

-3,780,140

Profit before income tax

61,875,946

60,677,666

Income tax expense

-21,826,282

-21,426,418

Profit for the period

40,049,664

39,251,248

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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