AS TOLD BY THE STREETS: THE EPISTLE OF NESTLÉ AND HER HEALTHY FINANCIAL STATUS
By Oki Samson, Trek Africa Newspaper
Right in the peak hours of the mornings in the city of Lagos, you meet young men with their flashy-tinted red-and-black carts dispensing sizzling hot coffee to the old and young as they rush to their offices, schools, and markets or while they are beating Lagos traffic.
Every rainy day, cold evening, and others is characterized by the same movement across the ever-bustling streets of Lagos. This is courtesy one of Nigeria’s most iconic brands, Nestlé Nigeria Plc.
This movement doesn’t go for free. For every cup of hot Nescafé, the young and old express top-of-the-world goodness. For every cup of hot Nescafé, money exchange hands. For every cup, each Nescafé cart pusher smiles home at the end of the day for a job well-done. For every cup, Nigeria’s local economy is positively impacted. This is courtesy one of Nigeria’s enduring brands, Nestlé Nigeria Plc, Oki Samson of Trek Africa Newspaper observed.
In virtually every home, Nigerian mothers tell their children to ‘go and get me maggi’ to flavour meals. Despite the stiff competition in the food seasoning industry, Nestlé’s Maggi still stands head and shoulders above.
The name ‘Maggi’ is Nigeria’s generic brand name for seasoning and flavours!
Nestlé Purelife is the toast of Nigerian social functions such as weddings, birthdays, child christening and dedication, housewarming, funerals. Popularly called ‘owanbe’, Nigeria’s melting pot of celebration enjoys the refreshing goodness of Nestlé Nigeria Plc.
You will find the pet bottles of the Nestlé Purelife water served to guests at all these parties. Thanks to the power of Nestlé Nigeria Plc.
Need us to tell you that breakfast is incomplete without Nestlé Golden Morn and Milo brands. These two brands are very good staples especially among the child population.
Although they come in standard packs, those who cannot afford it go for the sachet size. The quality or health benefits is not affected, price irrespective. Nestlé Nigeria Plc is doing great things!
What you will find on the books of Nestlé Nigeria Plc. will be no different from what you find on the streets. The financial implication for the management, staff, and shareholders of Nestlé is pleasant.
A recent financials for the first quarter 2022 gives a sneak peek into the books. Trek Africa Newspaper reported on 29th April, 2022: ‘Nestlé Nigeria PLC has announced its financial results for the first quarter of 2022, ending 31 March 2022.
The company recorded a revenue of N 110.2 billion against N 87.3 billion during the same period in the previous year, a top-line growth of 26.3%. Profit after tax for the period stood at N 18.0 billion according to the unaudited financial statements of the Company.’
Managing Director and CEO of Nestlé Nigeria PLC, Mr. Wassim Elhusseini
‘Commenting on the results, the Managing Director and CEO of Nestlé Nigeria PLC, Mr. Wassim Elhusseini said, “On behalf of the management and staff of Nestlé Nigeria PLC. I am delighted to present this impressive performance of our company in the first quarter of 2022. I commend the efforts of the entire team at Nestlé Nigeria PLC, for continuing to thrive under the current difficult business environment.’
‘We know that the global economic situation and supply chain disruptions will continue to put more pressure on the already challenging business environment.
However, we remain optimistic that we can continue to improve our business by empowering our people and ensuring continued supply of essential nutritious food and beverages to consumers. We will continue to focus on these two important areas while caring for our communities and business partners, and all collaborators across our value chains to sustain this growth throughout the year’, Mr. Elhusseini stated.
The Financial results of FY 2021 for Nestlé Nigeria PLC is a fuller confirmation. Trek Africa Newspaper reliably reported on 2nd March 2022, ‘Nestlé Nigeria Plc announced its financial results for the year 2021. The company posted a revenue of N351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N132.4 billion, compared to N119.2 billion during the year. The company posted profit after tax of N40.0 billion for the year. The detailed financial results are published on Nestlé’s website’.
This is a brilliant showing for an organization which ‘purpose is to unlock the power of food to enhance quality of life for everyone today and for generations to come’. That said, financials of Nestlé Nigeria Plc also makes the management, staff, and shareholders happy.
This is pleasant. This is the interpretation of Nestlé’s financial books as told by an everyday Nigerian. This is the epistle of Nestlé Nigeria Plc as told by the streets!