{"id":74396,"date":"2023-07-29T15:32:26","date_gmt":"2023-07-29T14:32:26","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=74396"},"modified":"2023-07-29T15:32:26","modified_gmt":"2023-07-29T14:32:26","slug":"h1-2023-nestle-nigeria-revenue-rises-17-7-to-n261-8-billion","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/h1-2023-nestle-nigeria-revenue-rises-17-7-to-n261-8-billion\/","title":{"rendered":"H1 2023: Nestl\u00e9 Nigeria Revenue Rises 17.7% To N261.8 Billion"},"content":{"rendered":"

… as PAT decline by N49.9billion<\/p>\n

Nestl\u00e9 Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to its performance in the same period of 2022. Gross profit is N 107.3 billion, an 34% increase over 80,205 earned in H1 2022.<\/p>\n

The Company posted a loss after
\ntax of – N 49.9billion, a 280% decline over the same period in 2022.<\/p>\n

The detailed financial results are available online at https:\/\/www.nestlecwa.com\/en\/investors\/nigeria<\/p>\n

\"\" \"\"Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestl\u00e9 Nigeria PLC, said, \u201cI thank every member of our team for the unwavering<\/p>\n

commitment and dedication which resulted in the significant increase in revenue and gross profit over H1 2022 despite the challenging business environment.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Our profit after tax was, however, negatively impacted by the recent devaluation of the Naira, which necessitated the revaluation of our foreign currency obligations.<\/p>\n

Going into the second half of the year, we will continue to focus on optimising our operations to ensure the availability and accessibility of the nutritious food and beverages our loyal customers expect from us.”<\/p>\n

Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestl\u00e9 Nigeria PLC, said, \u201cI thank every member of our team for the unwavering
\ncommitment and dedication which resulted in the significant increase in revenue and gross profit over H1 2022 despite the challenging business environment.<\/p>\n

Our profit after tax was, however, negatively impacted by the recent devaluation of the Naira, which necessitated the revaluation of our foreign currency obligations.<\/p>\n

Going into the second half of the year, we will continue to focus on optimising our operations to ensure the availability and accessibility of the nutritious food and beverages our loyal customers expect from us.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Nestl\u00e9 Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to its performance in the same period of 2022. Gross profit is N 107.3 billion, an 34% increase over 80,205 earned in H1 2022.<\/p>\n","protected":false},"author":6,"featured_media":56464,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3164],"coauthors":[2391],"class_list":["post-74396","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-nestle-nigeria"],"yoast_head":"\nH1 2023: Nestl\u00e9 Nigeria Revenue Rises 17.7% To N261.8 Billion - National Wire<\/title>\n<meta name=\"description\" content=\"Nestl\u00e9 Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/h1-2023-nestle-nigeria-revenue-rises-17-7-to-n261-8-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"H1 2023: Nestl\u00e9 Nigeria Revenue Rises 17.7% To N261.8 Billion - 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