Nestlé Nigeria Plc announced its financial results for the year 2021. The company posted a revenue of N 351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year. The Company posted profit after tax of N 40.0 billion for the year. The detailed financial results are published on Nestlé’s website.
In addition to N 25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of
N 50.50 for 2021. This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29th June 2022.
| Results: 2021 | 2020 | ||
| N’000 | N’000 | ||
| Revenue | 351,822,329 | 287,084,087 | |
| Cost of Sales | -219,419,757 | -167,872,616 | |
| Gross Profit | 132,402,572 | 119,211,471 | |
| Marketing and Distribution expenses | -48,097,581 | -43,843,396 | |
| Administrative expenses | -11,881,844 | -10,910,269 | |
| Results from operating activities | 72,423,147 | 64,457,806 | |
| Finance income | 2,059,782 | 646,546 | |
| Finance costs | -12,606,983 | -4,426,686 | |
| Net finance costs | -10,547,201 | -3,780,140 | |
| Profit before income tax | 61,875,946 | 60,677,666 | |
| Income tax expense | -21,826,282 | -21,426,418 | |
| Profit for the period | 40,049,664 | 39,251,248 | |
