Nestle Nigeria Posts 94% Profit Plunge in H1

Consumer-goods manufacturer, Nestle Nigeria Plc has released its Unaudited Financial Statements for the period ended 30th June 2016.
The result which was released at the Nigerian Stock Exchange, NSE, showed a profit of N535.8 million, indicating a 94 percent plunge from a profit after tax of N8.9 billion in the corresponding period of 2015.

The results also showed that the beverage company recorded a percent decline in profit before tax at N896.4 million compared with N10.6 billion a year earlier. However, Nestle’s revenue rose percent to N80.4 billion from N65.9 billion recorded in the first half of 2015.

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