FINANCIAL YEAR 2022: Nestlé Nigeria Records 27.0% Revenue Growth


Nestlé Nigeria Plc Managing Director Wassim Elhusseini.

Nestlé Nigeria Plc has announced a 27.0 per cent revenue growth in the company’s 2022 financial results, when compared to the 2021 performance.

Also, the company posted a revenue of N 446.8 billion in the year under review, as against N 351.8 billion in the preceding year.

A statement by its Corporate Communications and Public Affairs Manager, Mrs. Victoria Uwadoka, said that, consequently, Nestlé Nigeria Plc announced a final dividend of N36.50 per share to its shareholders for the financial year ended December 31, 2022.

The company’s profit after tax during the review period stood at N48.9 billion, compared with N40 billion in 2021, representing an increase of 22.3 per cent.

“The board of the company proposed an additional dividend of N36.50k, in addition to N25 per share interim dividend already paid in December 2022, bringing the total dividend per share of N61.50k for 2022.

“This proposed final dividend will be submitted for approval at the company’s Annual General Meeting May 17, 2023,” it said.

The statement quoted the company’s Managing Director, Mr. Wassim Elhusseini, as saying that the growth was due to unwavering commitment, dedication and ingenuity of its staff.

This, according to mhim, was proof that success was built into the DNA of the organisation and that working together, they could thrive and even excel in the most trying environments.

Elhusseini pledged that in 2023, the company would continue to ensure the availability of affordable nutrition for individuals and families who depend on the company to nourish their families daily.

“We know that it will be a challenging year, with the general elections and the associated charged political environment as well as the disruptions in economic activities experienced with the change of some denominations of the Naira.

“We are also faced with the increasing cost of doing business – especially the high cost of inputs, and therefore, remain flexible and resilient in our operations.

“Our priority will remain the wellbeing of our people, our consumers, our communities and our planet as we unlock the power of food to enhance quality of life for everyone today and for generations to come,” he said.

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