Nestle Nigeria Plc records 0.66% increase in export sales boost revenues
- 2nd November 2020
- Posted by: Hakeem
- Category: Company Results
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.
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.