Consumer goods maker, Nestle Nigeria Plc, has consolidated on its dominance in the Nigerian FMCG sector with its financial performance during the period spanning January to September 2019. The company’s latest earnings report covering nine months recorded growth across major financial indicators.
Revenue: The company’s unaudited revenue for the nine months stood at N211.3 billion. When compared against N203.1 billion recorded by the company during the comparable period last year, there is a 4% increase.
Cost of sales even reduced slightly by 1.7% to N115 billion, down from N116.9 billion during the same period last year. In the same vein, administrative expenses reduced by 1.4% during the period under review. However, marketing and distribution expenses increased by 8.6% to N32.3 billion from N29.7 billion as at September last year.
[READ MORE: Unilever Nigeria’s 9 months financial report shows drastic profit decline]
During the period, the company’s profit before tax increased by 17.6% to N56.6 billion compared to N48 billion recorded during the first nine months of 2018.
Profit after tax also increased by 11.2% to N36.8 billion as against N33.1 billion as at September 2018.
The company’s earnings per share is N46.48 as against N41.78 last September.
Nestle Nigeria Plc’s share price is trading at N1,220 on the Nigerian Stock Exchange.
Here is the full report.
