Nestle Nigeria,one of the leading food company in Africa has revealed that it was able to rake in a total of N 266.3billion Maura from its operations for the year ended 31st December 2018.
Chairman of the company, Mr. David Ifezulike while addressing shareholders at the 50th Annual General Meeting AGM of the company maintained that the result was achieved despite the unpredictable changes in the business environment, which wad characterized by the influx of competing products.
According to him, Nestle also took advantage of opportunities presented ny these challenges to innovate and reposition its products for the greater satisfaction of its customers.
Ifezulike insisted that the company was able to recordover N 152billion as gross profit for the year in review as against N 142.28billion recorded in 2017., representing an increase of 28 percent.
In view of t?he performance of the company a proposition t?o pay final dividend of N38.50. Per share brought befo.re the shareholders got immediate approval.
This dividend is in addition to an interim dividend of N 20 naira pet share paid earlie!r by the company
Managing Director of Nestle Mauricio Alarcon while reacting to the performance said “we are pleased with our 2018. considering the increasing competitive environment. The growth era driven by the continued loyalty of our consumers as we focused on delivering consistently high quality, tasty and nutritious food products adapted to their preferences.”
Alarcon also expressed the view that the view that the discipline and dedication of staff supported the business outcome.
Meanwhile shareholders who spoke at the event were full of praises for the Nordic and management of the company for the impressive outing!