Yesterday, Nestle Nigeria plc made available its audited profit and loss statement for the period ended 31st December 2008 to dealing members of the exchange. The company which is a household name due to the range of its products and involvement in the manufacturing, marketing and distribution of food showed significant improvements in its earnings.

A summary of its accounts showed a 17.5 percent change in its turnover from N44.027 billion in same period of 2007 to N51.742 billion in 2008. Profit before tax increased by 40.2 percent from N8.463 billion in 2007 to N11.862 billion in 2008. After tax profit also grew from N5.442 billion in 2007 to N8.332 billion in 2008 signifying a growth of 53.1 percent.It’s net asset experienced a growth of 44.8 percent to N9.031 billion in 2008 as against N6.236 billion in 2007.
It also disclosed its forecast for it 2009 financial year where it expects to grow its turnover to N63.135 billion. Profit before tax to N12.309 billion and after tax profit to N8.370 billion.

Following its awesome performance the company has proposed a bumper package for its share holders. It has proposed to pay a dividend of N10.60 kobo per share, closure of register is April 20 – 24th , 2009 and payment date is April 29th, 2009. It would be recalled the company had earlier paid an interim dividend of N1.95 kobo to investors in December 2008.

This entry was posted on Thursday, February 26th, 2009 at 11:54 am and is filed under StockMarketNigeria. You can follow any responses to this entry through the RSS 2.0 feed. Tags: ApprovedO, Nestle Nigeria
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