Nestlé Nigeria announces Q1'21 financial results

Nestlé Nigeria Plc has announced its financial results for the first quarter (Q1) ended March 31, of 2021.
The company recorded revenue of N87.3 billion against N70.3 billion during the same period in the previous year, a top-line growth of 24.1percent. Profit after tax stood at N 12.4 billion according to the unaudited financial statements of the Company.

The financial results were reviewed and approved by the Board of Nestlé Nigeria Plc during its meeting held on April 29, 2021.

Related News

Commenting on the results, The Managing Director and CEO of Nestlé Nigeria Plc, Wassim Elhusseini said, “I am inspired by the way our team has performed under difficult circumstances. With three more quarters still ahead of us, we will continue to drive sustainable growth despite the challenges of the COVID-19 pandemic.”

“With the roll-out of COVID-19 vaccination in progress, we are optimistic that the business environment will continue to improve. Our priorities will remain keeping our people safe, assuring continued supply of essential nutritious food and beverages to consumers and caring for our communities and business partners.”

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.