Nestle Nigeria 2014 full year pretax profit fell 6.1 percent to N24.44 billion ($121.59 million) compared with the N26.04 billion from a year ago.
The company in its filing on the Nigerian Stock Exchange (NSE) earlier today said its revenue has risen to N143.32 billion, from N133.06 billion in the same period last year.
The Nigerian unit of the world’s biggest food group, Nestle SA, has proposed a final dividend of N17.50 for each share, down from N19.02 dividend it paid a year ago.
Although there is reduction in dividend proposed compared with 2013 account,N17.50 is good enough. I don’t think Nestle has disappointed us. There are so many companies out there that cannot declare half of what it declared.