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MarketScreener Homepage  >  Equities  >  NIGERIAN STOCK EXCHANGE,THE  >  Nestle Foods Nigeria PLC    NESTLE   NGNESTLE0006

NESTLE FOODS NIGERIA PLC

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Nestle Foods Nigeria : Nestlé Nigeria restates commitment to addressing plastic packaging waste

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06/11/2019 | 11:33am EDT

Nestle Nigeria CEO/MD, Mauricio Alarcon (3rd from left), with other Nestle volunteers at the beach cleanup organised by the company on World Oceans Day 2019 in Lagos.

Nestle

By Peter Ejiofor Lagos, June 11, 2019 (NAN) Nestle Nigeria Plc says over 250 of its staff volunteers with their families removed 1,500kg of waste when it cleaned up part of Okun-Ajah community in Lagos, to commemorate the World Oceans Day 2019, in Nigeria.

The giant in food and beverage manufacturing which made the disclosure in a statement on Tuesday in Lagos, said it collaborated with RecyclePoints, an NGO in the exercise.

It said that the participants worked together to pick up plastic and other wastes found at the beachfront, ensuring proper segregation, weighing and baling of collected materials for proper management.

It added that all present were also educated on the dangers of poor waste management.

Speaking on the significance of the cleanup activity, the Managing Director and CEO of Nestlé Nigeria Plc, Mr Mauricio Alarcon said: “Plastic waste is one of the world’s most pressing issues.

“Through clean up initiatives and other activities, Nestlé aims to play an active role in changing behaviour and raising public awareness about reducing plastic waste and recycling more.

“This is part of the company’s broader vision to achieve a waste-free future.

“Nestlé is committed to leading lasting and impactful change, and we know that there is no better place to start than from within our own company.

“This is why we are here today with our families and friends, in line with our commitment to safeguard the environment.

“We are passionate about protecting the environment where we work and take action to improve it.’’

The World Ocean Day is an annual commemoration providing an opportunity to unite citizens, educate people on the issues relating to the ocean, and encourage them to take action to protect and conserve the ocean.

Across its locations worldwide, Nestlé employees at all levels observed the day by dedicating their volunteering hours to clean-up activities.

“Responding to the plastic waste challenge and striving for zero environmental impact in its operations is an integral part of Nestlé’s commitment to creating shared value for shareholders and society.

“In April 2018, the company had announced its ambition to make 100 per cent of its packaging recyclable or re-usable by 2025.

“Its vision is that none of its packaging, including plastics, ends up in landfill or as litter,’’ the statement said.

“Nestlé believes that there is an urgent need to minimise the impact of packaging on the environment and continues to collaborate with external and industry partners to play an active role in the development of well-functioning collection, sorting and recycling schemes across the countries where it operates.

“In Nigeria, the company works alongside other partners in the Food and Beverage Recycling Alliance (FBRA) to find creative solutions to managing plastic waste while preventing leakage into the ocean.’’

Nestlé Nigeria Plc began simple trading operations in Nigeria in 1961 and has today grown into a leading food manufacturing and marketing company.

Nestlé Nigeria is the biggest food company in West Africa and employs around 2,300 people and has three world-class factories.

Nestlé Nigeria manufactures and markets a range high quality brands, including NESTLÉ PURE LIFE, GOLDEN MORN, MILO, MAGGI and NESCAFÉ. (NAN) PR/PDE ====== (Editing by Peter Ejiofor)

(c) 2019 News Agency of Nigeria Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
NESTLE FOODS NIGERIA PLC 0.40% 1250 End-of-day quote.-15.82%
NESTLÉ -1.06% 102.6 Delayed Quote.29.95%
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Financials (NGN)
Sales 2019 291 B
EBIT 2019 69 126 M
Net income 2019 50 534 M
Finance 2019 1 740 M
Yield 2019 4,94%
P/E ratio 2019 19,6x
P/E ratio 2020 17,2x
EV / Sales2019 3,40x
EV / Sales2020 3,01x
Capitalization 991 B
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 11
Average target price 1 480,51  NGN
Last Close Price 1 250,00  NGN
Spread / Highest target 52,1%
Spread / Average Target 18,4%
Spread / Lowest Target -4,81%
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Managers
NameTitle
Mauricio Alarcón Chief Executive Officer & MD & Director
David Ifezulike Chairman
Jagdish Kumar Singla Director-Finance & Control & Director
Kais Marzouki Non-Executive Director
Gbenga A. Oyebode Independent Non-Executive Director
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DANONE23.13%55 076
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