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Nestle Nigeria Plc records 0.66% increase in export sales boost revenues

Nestle Nigeria Plc recorded increased revenues from its two revenue-generating units. 

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Why Nestle Nigeria’s return remains strong - EFG Hermes, Nestle Nigeria Plc appoints new Director, Nestle Plc: FY 2019 Revenue beats estimate; but profit underperforms, GTB, Zenith Bank, & Nestle emerge as Renaissance Capital’s top stock picks, Nestlé’s parent company acquires additional shares worth ₦300 million

Nestle Nigeria Plc reported revenues of N212.73 billion in 2020 9M compared to N211.35 billion in the corresponding period of 2019. 

READ: Flour Mills of Nigeria Plc: Increase in agro-allied, others boost revenues

Key highlights for 2020 9M 

  • Revenues increased to N212.73 billion, +0.66% YoY. 
  • Revenues from Nigeria increased to N208.73 billion, +0.40% YoY. 
  • Revenues from Export sales increased to N4.01 billion, +16.04% YoY.  
  • The cost of sales increased to N122.71 billion, +6.67% YoY. 
  • Administrative expenses increased to N8.98 billion, +29.13% YoY. 
  • Pre-tax profits decreased to N49.26 billion, -12.89% YoY. 
  • Earnings Per Share decreased to N40.29, –13.32% YoY.  

READ: Cadbury Nigeria Plc: Decline in domestic and export sales depletes revenue

READ: Here’s why NNPC is keen on partnering with Dangote Refinery

Bottom Line

Nestle Nigeria Plc recorded increased revenues from its two revenue-generating units. Although companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19, Nestle Nigeria Plc was able to grow its revenues. However, pre-tax profits declined in the period under consideration due to rising costs and expenses.  

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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