Again, Nestle’s parent company acquires additional shares of Nestle Nigeria worth ₦143million

Must Read

- Advertisement -

Nestle S.A, Switzerland, the parent company of Nestle Nigeria Plc and the majority shareholder of the company, has further increased its stake in the Nigerian subsidiary, as it purchased about 102,690 additional shares.

Nestlé Nigeria Plc made this known in a notification sent to the Nigerian Stock Exchange and made available to Brand Spur. In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the Company’s Secretary, Bode Ayeku.

Nestle S.A. purchased 102,690 shares of Nestle Nigeria Plc at N1,400 per share on November 20, 2020, at Nigerian Stock Exchange (NSE) in Lagos, Nigeria.

Below are the share acquisitions made by Nestle S.A in the month of November, so far:

Again, Nestle’s parent company acquires additional shares of Nestle Nigeria worth ₦143million
SOURCE: NSE | www.brandspurng.com

The purchase of the shares of Nestlé Nigeria further positions Nestlé S.A as the majority shareholder of the company.

Nestle Nigeria’s Q3 2020 Financials?

  • The beverage company in its 9M’2020 report grew revenue by 1% YoY to N212.73bn. Occasioned by a 7% increase in production cost YoY to N122.71bn in 9M’2020
  • Gross profit declined by 7% to N90.03bn in 9M’2020 from N96.31bn posted in 9M’2019.
  • Operating income also dropped by 12% YoY to N50.19bn in 9M’2020 on the back of higher administrative cost.
  • Profit after tax declined by 13% informed by a higher effective tax rate of 35.2% (9M’2019: 34.9%) to N31.94bn in 9M’2020.
Read Also:  Nestlé Nigeria re-launches Golden Morn brand fortified with vitamins and minerals
- Advertisement -

Again, Nestle’s parent company acquires additional shares of Nestle Nigeria worth ₦143million

  • EPS for the period printed at 40.29k (9M’2019: N46.48k).
  • The group declared an interim dividend of N25.00k with qualification date on November 20, 2020.
- Advertisement -
spot_imgspot_img

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 -

1 COMMENT

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.

Latest News

Schneider Electric

Manliki Joins Schneider Electric As Marketing Communications & Digital Lead

Arafat O. Manliki, former digital marketing manager at MTN has ended his 14-year career journey to resume his new position as the marketing communications...
bitcoin Central Bank digital currency Naira Bitcoiners Bitcoin Touches $18K, Crypto Asset Looks to Smash All-Time High, ETH Price Could Spike 20x

Bitcoin and Nigeria

- Advertisement -
spot_imgspot_img

Latest News

Manliki Joins Schneider Electric As Marketing Communications & Digital Lead

Arafat O. Manliki, former digital marketing manager at MTN has ended his 14-year career journey to resume his new...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img