NESTLE Nigeria Plc has published its unaudited results for the nine month period ending September 30, 2015 with a 5.2 percent revenue appreciation to N107.985 billion from N102.665 billion posted in the corresponding period of 2014.
Profit before income tax rose 3.3 percent to N20.8 billion from N20.2 billion, while N17.24 billion was recorded as profit, a 2.2 percent increase from N16.9 billion in the same period of 2014.
The Company Secretary/Legal Adviser, Bode Ayeku, said: “The company recorded a revenue growth of 5.2 percent for the nine-month period ended September 30, 2015 despite a challenging business environment and continued weak consumer sentiment.
“With the challenge of growing volume and managing costs, the company remained focused on investing more behind key brands to drive value for consumers, while also refocusing efforts around sales and distribution activities.
“The inclusion of Wyeth Nutrition products in Nestlé’s portfolio in 2015 has also contributed to revenue growth, net profit for the period improved by 2.2 percent despite higher input costs resulting from the devaluation of the naira and increase in financing costs, in order to mitigate these cost impactors, the company implemented various efficiency and cost saving initiatives.
“Regardless of the challenging macro-economic environment, management is committed to achieving positive results for the full year and remains optimistic about the long term potential of the business.”
The company also declared an interim dividend of N10.00k per ordinary share of 50 kobo each in the share capital of the company from the pioneer profits as at the year ended December 31, 2014 amounting to a total interim dividend of N7,926,562,520.00.
The interim dividend is payable on the issued share capital of 792,656,252 (2014:792,656,252) ordinary shares of 50k each held by each member of the company registered in the books as at the close of business on Friday, November 20. The interim dividend of N10.00k from the pioneer profits will be paid on Monday, December 7, not subject to deduction of withholding tax, while the Register of Members of the company will be closed from Monday, November 23 to Friday, November 27, both dates inclusive, to enable the preparation and payment of the interim dividend.

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