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 | FBNH | MAYBAKER | NEM | FIDSON | SEPLAT | MTN | ETI | AIICO | BUACEMENT | DANGCEM | DANGSUGAR | NESTLE | Q1:2021
- June 1, 2021
Find the link to the full reports attached below; Earnings Update – FBNH Q1 2021 Earnings Update –…
Earnings Update | GTCO | H1:2022 Bottomline Drags on Higher Tax Recognition
- September 23, 2022
Guaranty Trust Holding Company Plc. (GTCO) recorded a double-digit topline growth in the first half of 2022. The…
Earnings Update – STANBIC H12023.
- October 24, 2023
Kindly find attached. Earnings Update – STANBIC H12023 (1)
Earnings Update | NASCON | H1:2020
- August 5, 2020
NASCON, in its Q2:2020 financial scorecard, recorded strong double-digit growth (+24.34% YoY) in revenue to NGN7.65bn (vs. NGN6.15bn…
Earnings Update | GLAXOSMITH | H1:2021
- November 25, 2021
In Q2:2021, GLAXOSMITH witnessed a turnaround in revenue (+17.82%YoY) buoyed by a 55.37% increase in revenue from its…
Earnings Update | FLOURMILL | 9M:2021
- February 3, 2021
The 9M:2021 financial scorecard of Flour Mill of Nigeria Plc. (FLOURMILL) showed significant year on year improvements, with…