Nestle Nigeria Plc, one of the largest food and beverage companies in Africa with more than 5 decades in the business of rendering high quality nutritious food products to the delight of Nigerian has released its audited 2018 full year results.
The results indicate an advancement in turnover of N22.1 billion to close at N266.2 billion away from N244.1 billion it closed in 2017; and Profit before tax of N12.9 billion to arrive at N59.7 billion from 2017’s N46.2 billion, which represent 9.06% and 27.59% growth respectively.
The company’s profit after tax (PAT) for the period under review stood at N43 billion which is 27.53% above the N33.7 billion reported last same period of 2017.
Consequently, the shareholders’ earnings per share of the manufacturer, marketer and distributor of food products settled at N54.26 kobo for the period under review when compared to N42.55 kobo reported for the comparative period of 2017, which represents a growth of 27.53%.
As at when computed at a price of N1510, Nestlé’s PE Ratio stood at 27.28x with about 3.59% earnings yield.
A dividend of N38.50 per ordinary share of 50kobo each was recommended to shareholders, subject to the deduction of the appropriate withholding tax and approval at the AGM of the Company.
Shareholders whose names appear in the Register of Members as at the close of business on Wednesday, May 10, 2019 would only be considered for payment.
The Register of Members will be closed from, May 13 to 17, 2019.
