Nestle Nigeria reports 51 per cent fall in Q1 pretax profit

Nestle Nigeria first-quarter pretax profit fell 50.7 percent to 3.48 billion naira ($17.5 million) from a year ago, the food and beverage maker said on Monday.

Revenue fell to 27.55 billion naira for the three months to end-March from 33.42 billion a year earlier, the unit of Nestle SA said in a filing to the Nigerian Stock Exchange.