Nestle Nigeria’s Q1 profit rise 49% to N12.8bn from N8.6bn

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Nestle Nigeria Plc on Tuesday reported a 49% increase in net income for the first quarter of 2019. Profit rose to N12.8bn from N8.6bn, driven by a reduction in finance cost to N469m from N1.1bn, a 60% decrease as well as a 79% gain in finance income, which rose to N504 from N281m.

Net revenue grew by 5.19% to N71bn, from N67.4bn in Q1 2018.

Commenting on the results, the company said: “In the first quarter of 2019, Nestlé Nigeria continued its emphasis on creating demand as well as strengthening brand loyalty programs to increase market penetration. The company also continued to focus on creating shared value for society and its shareholders by delivering high-quality nutritious products to consumers and contributing to the growth of the local economy through local sourcing and increasing access to clean drinking water in the communities where it operates.

“We are pleased with the sustained growth of our company, the loyalty of our consumers and the discipline and dedication of our people to provide tastier and healthier foods and beverages,” the company said.

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Looking forward to the rest of 2019, the firm said it was optimistic that its current business model will keep delivering satisfactory results to its shareholders and to society in line with its Creating Shared Value principle. Providing high-quality and affordable nutritious products which meet the needs and preferences of its consumers will remain its priority as it helps build thriving, resilient communities through sustainable local sourcing and continuous product innovation.”

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Nestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand SpurNestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand Spur

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Nestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand SpurNestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand Spur

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Hong Kong ICT Awards 2021 opens for enrolment

HONG KONG SAR - Media OutReach - 23 April 2021 - The Hong Kong ICT Awards (HKICTA) 2021 is open for enrolment today (April 23). Entries of locally developed information and communications technology (ICT) products and solutions are invited to compete for the Grand Awards in the eight award categories, and the top accolade of the competition - the Award of the Year. The deadline for enrolment is July 16, 2021.

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Steered by the Office of the Government Chief Information Officer (OGCIO), the HKICTA 2021 is organised by eight local industry associations and professional bodies. The award categories and respective Leading Organisers are listed below:


Award Categories

Leading Organisers

Digital Entertainment Award

Hong Kong Digital Entertainment Association

FinTech Award

The Hong Kong Institute of Bankers

ICT Startup Award

Hong Kong Wireless Technology Industry Association

Smart Business Award

Hong Kong Computer Society

Smart Living Award

Hong Kong Information Technology Federation

Smart Mobility Award

GS1 Hong Kong

Smart People Award

The Hong Kong Council of Social Service

Student Innovation Award

Hong Kong New Emerging Technology Education Association


A Grand Award will be granted in each category. A Grand Judging Panel, to be led this year by the President of the Hong Kong University of Science and Technology, Professor Wei Shyy, will select the Award of the Year from the eight Grand Awardees.


Since its debut in 2006, the HKICTA has endeavoured to recognise and promote outstanding ICT inventions and applications, thereby encouraging the pursuit of innovation and excellence among Hong Kong's ICT professionals and enterprises to meet business and social needs, bring benefits to the community through adoption of innovation and technology, and foster Hong Kong's smart city development together.


Details of the HKICTA are available on the thematic website (www.hkictawards.hk). Enquiries can be made to the OGCIO at 2582 4318 or by emailing [email protected]


Nestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand Spur
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- Advertisement -Nestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand SpurNestle Nigeria's Q1 profit rise 49% to N12.8bn from N8.6bn - Brand Spur