Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Nestlé Nigeria Plc (NESTLE) Q3-2020 financials shows gross earnings grew by 0.66% on the back of 0.40% and 16.05% increase in Domestic and Export sales respectively as gross revenue moved from N211.35 bn to N212.73bn in the current period. A breakdown of the sales figure shows an impressive increase in foreign sales as export increased to N4.01bn from the N3.45bn recorded in Q3-2019 despite the continuous closure of the land border.  Sales in the Nigerian economy, however, inches up from N207.90bn to N208.73bn in the current period amid weak consumer spending caused by the COVID-19 pandemic.

Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00
Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 – www.brandspurng.com

Operating Profit Pressured by increasing Cost of Sales and Expenses
Following a 6.67% increase in the cost of sales, gross profit declined by 6.53% to N50.185 compared to the N57.05 recorded in the earlier period. This was further compounded by an upward movement in the Selling and distribution expenses leading to a 12.03% reduction in the operating profit from N57.05bn to N50.19 bn

Higher Finance Cost Compressed Bottom-line Performance…PAT down by 13.31%

Nestle recorded a 34.85% decrease in finance income buoyed by the continuous low asset yield. However, a 3.31% increase in finance cost led to a massive 86.09% surge in net finance cost. This led to a 12.89% and 13.31% compression in Profit before tax and Profit After Tax respectively. Profit Before Tax (PBT) decreased from N56.55bn to N49.26 bn while PAT declined from N36.84 to N31.04 in Q3-2020. Consequently, Earnings Per Share (EPS) compressed by 13.32% from N46.48 to N40.29. The company, however, proposed an interim dividend of N25.00 to be paid on 7th December 2020.

Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand Spur

- Advertisement -
Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand SpurNestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand SpurNestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand Spur

Latest News

COVID-19 drives wages down, new ILO report finds

Even before the COVID pandemic hit, hundreds of millions of workers worldwide were being paid less than the minimum...

40 years ago: Mercedes-Benz launched the driver’s airbag and seat belt tensioner in series production

In December 1980, the first S-Class vehicles (126 model series) fitted with innovative restraint systems were delivered to customers Airbags are an elementary feature...

Ecobank Group wins Awards from EMEA Finance, The Banker and Global Finance

The award of ‘Outstanding Crisis Leadership – Finance & Business’ was awarded to Ecobank by Global Finance December 2, 2020 - Leading pan-African banking group,...

Mouka Attains Triple Laurels of Distinction at Brandcom 2020 Awards

Mouka has attained triple laurels at the recent Brandcom Awards, which saw the company clinching the “Brand of the Year”, the “CEO of the...

Nokia confirms 5G as 90 percent more energy efficient

Research undertaken together with Telefónica finds 5G networks up to 90 percent more energy efficient per traffic unit than legacy networks Mobile operators...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand SpurNestle Grew Revenue by 0.66% in Q3-2020, Proposed an Interim Dividend of N25.00 - Brand Spur