estlé Nigeria–H12023Financial Result
Press release -Lagos,July 29, 2023 :Nestlé Nigeria PLChas announced a
revenue of N 261.8 billion in the first half of 2023, an17.7% increase compared
to itsperformancein the same period of2022. Gross profit is N 107.3 billion, an
34% increase over 80,205 earned in H1 2022. The Company posted a lossafter
tax of-N49.9billion, a 280% decline over the same period in 2022.
The detailed financial results are available online at https://www.nestle
cwa.com/en/investors/nigeria
Results :
Jan –Jun2023Jan-Jun2022
N’000
N’000
Revenue261,769,509222,450,780
Cost of Sales(154,434,614)(142,245,152)
Gross Profit107,334,89680,205,628
Marketing and Distribution
expenses
(40,310,521)(28,352,914)
Administrative expenses(6,231,716)(5,671,216)
Results from operating activities60,792,65946,181,498
Finance income7,815,6514,521,336
Finance costs(137,725,905)(6,962,925)