Nestlé Nigeria Profit Soars By 45%, Records N110.2bn Revenue In Q1 2022
By Ngozi Onyeakusi– Nestlé Nigeria PLC has announced a revenue appreciation of N110.2 billion in the first three months of 2022.
According to Nestlé’s financial results for the first quarter ending 31 March 2022, the figure represents a top-line growth of 26.3% compared to N 87.3 billion recorded during the same period in the previous year.
The unaudited financial statements of the Company also shows a significant rise in Profit After Tax (PAT) of 45% to N18.0 billion for the period compared to the N12.4bn reported in the corresponding period of the previous year.
According to a statement from Nestlé, signed by the Corporate Communications Specialist, Bola Audu, the financial results were reviewed and approved by the Board of Nestlé Nigeria PLC during its meeting held on April 29, 2022