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

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

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.  

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.  


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