NESTLE rounded off its 2021FY financial scorecard on an impressive note, delivering robust double-digit (+22.55%YoY) growth to NGN351.82bn in 2021FY (from NGN287.08bn in 2020FY). The outstanding performance was propelled by the increase in domestic sales (+22.59%YoY) supported by the rebound in economic activities, increased household spending and continued customer loyalty to the company’s product. The firm also revised upward the prices on products in the food segment (which typically makes up c.61% of total revenue) like Maggi, Golden Morn, and Cerelac, pushing the segment’s revenue higher by +21.29%YoY.
You May Also Like
Earnings Update | MTNN | Q1:2020
- June 3, 2020
MTN Nigeria (MTNN) began the year on a strong note with an impressive performance across its core business…
Earnings Update | BUACEMENT | H1:2020
- August 21, 2020
BUA Cement Plc. (BUACEMENT) performed impressively in H1:2020, delivering a topline growth of 12.69%, from NGN89.86bn in H1:2019…
Earnings Update – DANGSUGAR – 2021FY
- March 22, 2022
DANGSUGAR’s revenue hit record high in 2021FY. The firm’s topline climbed to NGN276.05bn (vs NGN214.30bn in 2020FY), driven…
Earnings Update – Consumer Goods – 9M December 1st 2023
- December 12, 2023
Kindly find attached. Earnings Update – Consumer Goods – 9M_ December 1st 2023
Earnings Update | INTBREW | Q1:2020
- May 6, 2020
International Breweries Plc. (INTBREW), reported a marginal increase in revenue (+0.72%) to NGN35.35bn in Q1:2020. On a quarter…
Earnings Update – UACN 2021FY Cost Pressures Undermine Earnings Potential
- April 29, 2022
United Africa Company of Nigeria (UACN), in its 2021FY financial scorecard, recorded solid double-digit growth (+24.61%YoY) in revenue…