Nestlé Nigeria Plc, one of Nigeria’s leading nutritious food manufacturers, has reported N446.8 billion as revenue for its 2022 operations, representing 27.0% growth over the N351.8 billion it recorded in 2021
In its audited financial results, the company disclosed that in the year under review, its profit before tax (PBT) rose to N155.8 billion, representing a 18.2% improvement over the 2021 profit while the Profit after tax (PAT) also stood at N48.9 billion or 22.3% higher than the preceding year’s PAT.
Following the improved financial performance, the company’s Board has proposed a final dividend payout of N36.50k per share, in addition to N25.00 per share interim dividend already paid in December 2022, bringing the total dividend per share to N61.50k for the year.
According to a corporate disclosure by the board, the proposed final dividend will be submitted for approval at the company’s Annual General Meeting (AGM) scheduled to hold on 17th May, 2023.
Reflecting on the financial results, the company’s Managing Director, Mr. Wassim Elhusseini, said: “I congratulate and thank everyone, especially our staff and managers whose unwavering commitment, dedication and ingenuity drove the excellent results achieved in 2022.
“I am extremely proud of the team’s ability to continue to achieve so much even under the current challenging business environment, enabling us keep our commitment to deliver value for our shareholders, our consumers and the communities in which we operate.
“This is proof that success is built into the DNA of our organization and that working together, we can thrive and even excel in the most trying environments“, the industrialist added.
Elhusseini assured the public and the shareholders that in 2023, the company’s board and management would continue to work to ensure the availability of affordable nutrition for the individuals and families who depend on the company to nourish their families daily.
While noting that the year will be challenging due to the general elections, the disruptions in economic activities experienced with the change of some denominations of the Naira and the increasing cost of doing business, the company’s CEO maintained that the company’s priority will “remain the well-being of our people, our consumers, our communities and our planet as we unlock the power of food to enhance quality of life for everyone today and for generations to come.”
