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ITREALMS : The Nigerian Guild of Editors (NGE) has promoted its Vice President, West, Mr. Mustapha Isah to the post of acting president,...

Friday, May 03, 2019

Nestlé Nigeria unveils Q1 2019 financial results - ITREALMS

Nestlé Nigeria Plc has unveiled its financial results for the first quarter of 2019 with a record of post-revenue of N71.0 billion, which is a growth of 5.2 per cent over previous year, reports ITREALMS.

The gross profit for the period, 
ITREALMS gathered, stood at N 31.5 billion, compared to N 25.8 billion during the previous year.

Also, the company posted a net profit of N 12.8 billion as compared to N 8.6 billion during same period under review.

In the first quarter of the 2019, Nestlé Nigeria continued its emphasis on creating demand as well as strengthening brand loyalty programs to increase market penetration.

Also, the company continued to focus on Creating Shared Value for society and its shareholders by delivering high quality nutritious products to consumers and contributing to the growth of the local economy through local sourcing and increasing access to clean drinking water in the communities where it operates.

Reacting, Mr. Mauricio Alarcon, Managing Director & CEO of Nestlé Nigeria Plc said, “We are pleased with the sustained growth of our company, the loyalty of our consumers and the discipline and dedication of our people to provide tastier and healthier foods and beverages,”

Remmy Nweke/DoP

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