Nestlé Nigeria shows 5.2% growth Q1 2019
Nestlé Nigeria has announced its financial results for the first quarter of 2019, posting a revenue of N71.0 billion, recording growth of 5.2% over the previous year. Gross profit for the period stood at N 31.5 billion, compared to N 25.8 billion during the previous year. The company posted a net profit of N 12.8 billion as compared to N 8.6 billion during same period of the previous year.
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. The company also 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.