2014 H1: Nestle Reports 5.4% Rise In Pre-tax profits and Borrowed N7.6billion Additional loans
Nestle Plc released its 2013 Half year results showing a 7.6% rise in revenues to N67.2billion (N62.4billion 2013 H1). Operating profit before other income was N14.8billion 1.9% higher than N14.5billion posted in 2012. Pre-tax profits for the period was N13.9billion compared to N13.2billion posted a year earlier.
On a quarter on quarter (qoq) basis revenue 1% to N33.7billion this quarter compared to N33.4billion posted 2014 Q1. Pre-tax profits however dropped 3% to N6.8billion compared to N7billion posted a quarter earlier.
Nestle’s debt also increased marginally by N7.6billion this quarter as it borrowed more short term loans to finance its operations. Its total debts is now N34.6billion compared to N27.4billion at the end of 2013.