Nestlé Nigeria Plc has announced its financial results for the half year ending 30 June 2018.
For the period January to June 2018, the company recorded a revenue of N 135.3 billion, a growth of 11% over same period in the previous year – and a profit after tax of N 21.5 billion. According to the unaudited results, Nestlé Nigeria PLC posted a revenue of N 67.8 billion in Q2 2018, up from N 60.8 billion in Q2 2017.
The Managing Director and CEO of Nestlé Nigeria PLC, Mr. Mauricio Alarcon, said:
“We are pleased with the sustained growth of our company amid the tough competitive business landscape. These results were possible thanks to the relentless efforts of our highly passionate team to provide high quality and affordable nutritious food and beverages to Nigerian consumers.”
H2 2018 Outlook:
On the outlook for the second half of the year, Mr. Alarcon said,
“We will maintain the focus on delighting consumers with our nutritionally superior products by increasing promotion initiatives and providing more nutrition education. In line with our Creating Shared Value principle, we remain committed to help build thriving and resilient
communities through local sourcing, expanding the commercialization of our products and strengthening our value chain.”
Nestle is the largest food company in the world. But every company had to start from somewhere… Nestle’s roots go as far back as 1866, with the foundation of the Anglo-Swiss Condensed Milk Company in Cham, Switzerland- which was formed by brothers George and Charles Page.
Heinrich Nestlé developed a breakthrough infant food (farine lactée) in Vevey, Switzerland; the Headquarters of Nestle till date, in 1867. In 1877, Anglo-Swiss added milk-based baby foods to their products; not to be outdone, in the following year, the Nestlé Company added condensed milk to their products, all but confirming Anglo-Swiss and Nestle as direct and fierce rivals.
Nestle own a plethora of brands like; beverages, cereals, Chocolate, confectionery and baked goods, foodservice products, frozen foods, healthcare nutrition, infant foods, performance nutrition, pet food, refrigerated products, seasonings, shelf stable and yoghurt. Here are a few things not a lot of people know about Nestle; Nestlé is one of the main shareholders of L’Oréal which is, in case you forgot, the biggest cosmetics company in the world! The first product sold by Nestle was Baby Food. Nestle owns 436 factories worldwide in 86 countries and its branches operate in nearly 200 countries. Nestle’s most popular category is powdered and liquid beverages more than anything else.