Nestle Nigeria, the country’s No. 1 company responsible for the manufacturing, marketing, and distribution of food products including purified water throughout the country released its financial results for the full year ended December 2015.
The result showed that revenues increased by 5.54% from N143 billion in 2014 to N151 billion in 2015, while the company increased its operating expenses by 4.90% from N32 billion in 2014 to N33 billion in 2015.
Nestle’s pre-tax profits rose by 19.95% from N24 billion in 2014 to N29 billion in 2015, while profit after tax rose by 6.75% from N22 billion to N23 billion in 2015.
The directors recommended the payment of a final dividend of N19.00 per share (8.57% higher than the N17.50 paid in 2014) having earlier declared an interim dividend of N10.00 per share. The company further said that the final dividend of N19.00 proposed is composed of N5.00 and N14.00 respectively from the pioneer and non-pioneer profits of the company respectively.
Nestle’s shares was trading at N690 as at pres time.
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