LAGOS- Nestlé Nigeria has reported a 61 per cent revenue growth of N294.9 billion in first quarter of 2025.
This is compared to N183.5 billion reported for the first quarter of 2024.
The company disclosed this in a corporate disclosure sent to the Nigerian Exchange Ltd. on Wednesday.
Its operating profit grew to N74.1 billion, representing 254 per cent increase from N20.9 billion in first quarter 2024.
The profit before tax reached N51.2 billion, in contrast to the loss of N196.1 billion in the same period in the prior year.
Also, the profit after tax amounted to N30.2 billion, compared to a loss of N142.7 billion in first quarter 2024.
The equity position improved by N30 billion.
Commenting on the results, Mr Wassim Elhusseini, Chief Executive Officer of Nestlé Nigeria, said, “The results for Q1 2025 reflect our unwavering commitment to operational excellence and strong fundamentals, marking a successful continuation of our return to profitability initiated in Q4 2024.
“The robust topline growth of 61 per cent in Q1 2025 and profit after tax of N30.1 billion demonstrate that our focused efforts are yielding desired results led by a strong operating performance.”
Looking ahead, Elhusseini said, “We will remain dedicated to driving innovation and renovation to meet evolving consumer needs, enhancing our margin management initiatives, and investing in community programs that deliver sustainable value to all our stakeholders.” (NAN)
