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Thursday, November 1, 2018

Nestlé releases 2018 financial results for Q3, offers N20 dividend - NaijaAgroNet

The Nestlé Nigeria Plc has proclaimed its financial results for 9 months period ending 30 September 2018, with recorded revenue of N 203.1 billion which translates into 9.7 per cent, reports NaijaAgroNet.

According to the third quarter results sighted by NaijaAgroNet, stressing that for the period January to September 2018, the company recorded revenue of N 203.1 billion with a growth of 9.7 per cent over same period in the previous year.

NaijaAgroNet gathered that Nestle Nigeria made Profit After Tax (PAT) of N 33.1 billion.
The unaudited financial statements of the company, NaijaAgroNet also gathered, saw Nestlé Nigeria Plc posting a revenue of N 67.8 billion in Q3 2018, up from N 63.3 billion in Q3 2017.

Further, NaijaAgroNet reports that the company board in its meeting held on October 29th 2018 approved an interim dividend of N20 per share.

Below is the full detail of the January - September 2018 financial result.


N’000
N’000
Revenue
203,134,728
185,242,450
Cost of Sales
-116,984,764
-109,361,943
Gross Profit
86,149,964
75,880,507
Marketing and Distribution expenses
-29,739,809
-25,260,332
Administrative expenses
-7,050,143
-7,534,933
Results from operating activities
49,360,012
43,085,242
Finance income
1,389,846
6,281,172
Finance costs
-2,661,306
-14,887,393
Net finance costs
-1,271,460
-8,606,221
Profit before income tax
48,088,552
34,479,021
Income tax expense
-14,970,265
-11,499,031
Profit for the period
33,118,287
22,979,990

 Uj. N. Dominic/GEE

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