Nestle Nigeria declares 9% increase
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Nestle Nigeria declares 9% increase in revenue for 2018

  • Nestle Nigeria declares 9% increase

Nestle Nigeria declares 9% increase. Nestle Nigeria Plc declared a revenue of N266,274.621 million for the year ended 31st December, 2018. The company recorded a 9% increase in revenue from N244,151,411 million that was recorded in 2017.

Nestle presented the audited results to the Nigeria Stock Exchange and it showed that the company profit for 2018 before income tax was N59,750,846 which is a 28% increase from N46,828,682.

The profit of the year was N43,008,026 which was also a 28% increase from N33,723,730 recorded in 2017.

The Declared Dividend was N37,651,172 which was a 90% increase from N19,816,406.

The share capital remained the same as 2017 at N396,328.

The total equity was N50,220,486 a 12% increase from N44,878,177 in 2017.

The company board has declared that a dividend of N38.50 will paid per 50 kobo ordinary shares to shareholders whose names appear on the register of members at the close of business 10th May 2019.

The shareholders will receive their dividends electronically on 29th May.