Nestlé records N87.3bn revenue in Q1 2021

Nestlé Nigeria Plc said it recorded revenue of N87.3 billion in its financial results for the first quarter of 2021, ending 31 March 2021.

This contained in a statement by Victoria Uwadoka, Corporate Communications and Public Affairs Manager, made available to newsmen on Thursday in Lagos.

Uwadoka said that the figure was against the N70.3 billion recorded during the same period in the previous year, representing top-line growth of 24.1 percent.

She said that the company’s profit after tax stood at N 12.4 billion, according to Nestle’s unaudited financial statements.

According to her, the financial results were reviewed and approved by the Board of Nestlé Nigeria Plc during its meeting held on April 29.

Commenting on the results, Mr Wassim Elhusseini, the company Managing Director and Chief Executive Officer, expressed his happiness on the company’s performance.

Elhusseini said: “I am inspired by the way our team has performed under difficult circumstances.
“With three more quarters still ahead of us, we will continue to drive sustainable growth despite the challenges of the COVID-19 pandemic.

“With the roll-out of COVID-19 vaccination in progress, we are optimistic that the business environment will continue to improve.

“Our priorities will remain to keep our people safe, assuring continued supply of essential nutritious food and beverages to consumers and caring for our communities and business partners.”