Nestlé Nigeria Plc Announces Earnings Results for the Year Ended December 31, 2016
Nestlé Nigeria Plc announced earnings results for the year ended December 31, 2016. For the period, the company reported revenue of NGN 181,910,977 against NGN 151,271,526 a year ago. Results from operating activities was NGN 38,213,337 against NGN 33,747,243 a year ago. Profit before income tax was NGN 21,548,408 against NGN 29,322,477 a year ago. Profit for the year is attributable to owners of the company was NGN 7,924,968 against NGN 23,736,777 a year ago. Diluted earnings per share was NGN 10.00 against NGN 29.95 a year ago. Net cash flows from operating activities was NGN 61,484,847 against NGN 39,877,436 a year ago. Acquisition of property, plant and equipment was NGN 7,067,737 against NGN 7,726,431 a year ago.