Nestlé Nigeria Plc earned N446.8 billion during the 2022 fiscal year, an increase in revenue of roughly 27% from the previous year’s results. The company reported sales of N446.8 billion in the reviewed year as opposed to N351.8 billion in the year prior in its audited results.
Moreover, its gross profit for 2022 was N155.8 billion, a rise of 18.2% from 2021. A profit after tax of N48.9 billion, or a 22.3% increase over 2021, was recorded for the year 2022.
Wassim Elhusseini, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, commented on the outcome: “I congratulate and thank everyone, especially our staff and managers, whose unwavering commitment, dedication and ingenuity drove the excellent results achieved in 2022.”
“I am extremely proud of the team’s ability to continue to achieve so much even under the current challenging business environment, enabling us keep our commitment to deliver value for our shareholders, our consumers and the communities in which we operate.”
This is evidence that our organization is designed for success and that, when we work together, we can flourish and even succeed in the most demanding conditions.
“In 2023, we will continue to work to ensure the availability of affordable nutrition for the individuals and families who depend on us to nourish their families daily. We know that it will be a challenging year, with the general elections and the associated charged political environment, as well as the disruptions in economic activities experienced with the change of some denominations of the Naira. We are also faced with the increasing cost of doing business – especially the high cost of inputs, and therefore, remain flexible and resilient in our operations”.
“Our priority will remain the wellbeing of our people, our consumers, our communities and our planet as we unlock the power of food to enhance quality of life for everyone today and for generations to come,” he concluded.
