Nestle manages to grow Q3 profit by 5%

Nestlé Nigeria Plc has posted a profit before tax (PBT) of N51.58 billion for the third quarter ended Sept. 30.

This was contained in the company’s unaudited financial statements sent to the Nigerian Exchange (NGX) Limited and signed by the Company Secretary/Legal Adviser, Mr Bode Ayeku, on Monday in Lagos.

According to the financial statements, the PBT represented a five per cent growth compared to the N49.26 billion recorded in the comparative period of 2020.

Also, the statements showed a rise in profit after tax (PAT) for the period to N33.58 billion from N31.93 billion in the same period of 2020, representing a five per cent increase.

The company’s revenue also grew to N261.59 billion as against N212.73 billion recorded in the comparative period of 2020, showing a 23 per cent increase.

The company also stated that an interim dividend of 25k per 50k Ordinary Share would be paid to the shareholders whose names appeared on the register of members as at the close of business on Nov. 19.