Nestlé Nigeria Plc raked in N446.8b in the 2022 financial year, representing about 27 per cent revenue growth compared to 2021 performance. The company, in its audited result, said it made revenue of N446.8b in the year under review as against N351.8b in the preceding year.
Also, its gross profit for 2022 stood at N155.8b, representing 18.2 per cent increase over 2021. Meanwhile, profit after tax of N48.9b was recorded for the year 2022, which represents a 22.3 per cent increase over 2021.
Commenting on the result, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, 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 organisation and that working together; we can thrive and even excel in the most trying environments.
“In 2023, we will continue to work to ensure the availability of affordable nutrition for the individuals and families who depend on us to nourish their families daily. We know that it will be a challenging year, with the general elections and the associated charged political environment, as well as the disruptions in economic activities experienced with the change of some denominations of the Naira. 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”.
“Our priority will remain the wellbeing 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,” he said.
