Nestlé Nigeria Plc earned N446.8 billion during the 2022 fiscal year, an increase in revenue of roughly 27% from the previous year’s results.
The company reported sales of N446.8 billion in the reviewed year as opposed to N351.8 billion in the year prior in its audited results.
Moreover, its gross profit for 2022 was N155.8 billion, a rise of 18.2% from 2021. A profit after tax of N48.9 billion, or a 22.3% increase over 2021, was recorded for the year 2022.
Nestlé Nigeria Plc’s Managing Director and Chief Executive Officer, Wassim Elhusseini, commented on the outcome, saying: “I congratulate and thank everyone, especially our personnel and management, whose unshakable passion, dedication, and innovation propelled the great achievements achieved in 2022.
“I am incredibly proud of the team’s ability to maintain producing so much work despite the present difficult business environment, enabling us to uphold our mission to provide value for our shareholders, consumers, and the communities in which we operate.”
“This is evidence that our organization is designed for success, it is in our DNA and that, when we work together, we can flourish and even succeed in the most demanding conditions.”
In 2023, we’ll keep working to make sure that the people and families who rely on us to feed their family every day have access to affordable nutrition. With the general elections and the ensuing tense political climate, as well as the disruptions in economic activity, we are aware that this year will be difficult.
We are also faced with the increasing cost of doing business – especially the high cost of inputs, and therefore, remain flexible and resilient in our operations”. “As we unlock the power of food to increase quality of life for everyone today and for centuries to come, our priority will be the wellbeing of our people, our consumers, our communities, and our generations,” he said.
