Nestle Nigeria’s H1 profit falls despite revenue growth

Nestle Nigeria Plc has reported a profit before tax of N33.38 billion for the first half of this year, one percent lower than the N33.86 billion recorded in the same period of 2020.

The company’s revenue, however, increased to N171.44 billion from N141.03 billion, according to its unaudited financial statements released on Friday.

The dividend declared dropped by 21 percent to N28.14 billion from N35.67 billion.