Tag
NESTLE
News and analysis about Nestle Nigeria
Nestle Nigeria Plc in a note to its shareholders has stated that 94% of its N195 billion FX losses pertains to “unrealized exchange losses”. Essentially, N184 billion of its FX losses are due to unmatured forex obligations.
In the face of economic challenges, the consumer goods sector experienced bleak financial outcomes for the 2023 fiscal year. Despite the challenging financial performance in 2023, investors have maintained confidence in the stocks, as indicated by their YtD gains in Q1 2024.
Nestlé has announced lower-than-anticipated full-year sales, attributing the downturn to ongoing pressures on household finances.
Market sentiments were bullish today as some blue-chip stocks recorded massive gains causing the All-Share Index of the NGX to appreciate by 0.37%, closing at 71,283.34 points.
The current year seems to be presenting Nestle Nigeria with considerable challenges, leading to a break in earnings trends and possibly an anticipated break in its five-year streak of consistently paying dividends to shareholders.
Nestle Nigeria Plc recorded a profit before tax of N12.46 billion in Q3 2023, a year-on-year decline of 14.92% from the corresponding quarter in 2022.
Nestle, Unilever, the Mahindra Group, and Volvo Cars, among other corporations, are calling upon political leaders to establish a definitive timeframe during the upcoming U.N. climate summit for the gradual elimination of fossil fuels.
Nestle Nigeria’s H1 2023 numbers reflected the disruptions in the macroeconomic space. Despite inflationary pressures, the company’s Revenue advanced by 17.7% y/y to N261.77bn (H1 2023) from N222.45bn (H1 2022).
Nestle Nigeria, BUA Foods, and Nigeria Breweries were the top three FMCG companies in Nigeria that paid the highest income tax in the first quarter of 2023.
Hello and welcome to Nairametrics’ Corporate News Roundup for the week that ended May 27, 2023.
The appointment follows the retirement of Mr. David Ifezulike as a Director and the Chairman of the Board of the Company with effect from May 18, 2023.
Last week, there were some major share acquisitions by Herbert Wigwe and Tony Elumelu in Access Holdings and UBA.