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Nestlé Nigeria Releases 2021 Full Financial Year Results

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Nestlé Nigeria Releases 2021 Full Financial Year Results

Olushola Okunlade Writes

Nestlé Nigeria Plc has announced its financial results for the year 2021.

The company posted a revenue of N 351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year. The Company posted a profit after tax of N 40.0 billion for the year. The detailed financial results are published on Nestlé’s website.

In addition to N 25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of N 50.50 for 2021. This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29th June 2022.

Results:
Revenue 2021- 351,822,329 / 2020- 287,084,08
Cost of Sales -219,419,757 / -167,872,616
Gross Profit 132,402,572 / 119,211,471
Marketing and Distribution expenses -48,097,581 / -43,843,396
Administrative expenses -11,881,844 / -10,910,269
Results from operating activities 72,423,147 / 64,457,806
Finance income 2,059,782 / 646,546
Finance costs -12,606,983 / -4,426,686
Net finance costs -10,547,201 / -3,780,140
Profit before income tax 61,875,946 / 60,677,666
Income tax expense -21,826,282 / -21,426,418
Profit for the period 40,049,664 / 39,251,248

See Table Below:

Nestlé Nigeria Plc announced its financial results for the year 2021. The company posted a revenue of N 351.8 billion recording 22.6% growth over the previous year. Gross profit for the year stood at N 132.4 billion, compared to N 119.2 billion during the previous year. The Company posted profit after tax of N 40.0 billion for the year. The detailed financial results are published on Nestlé’s website. In addition to N 25 per share interim dividend paid in December 2021, the Board proposed an additional dividend of N 25.50 per share making for a total dividend of N 50.50 for 2021. This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 29 th June 2022.
Mr. Wassim Elhusseini, Managing Director/CEO of Nestlé Nigeria Plc.

Commenting on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, said, “We commend everyone in our organisation for their contributions to the attainment of these impressive results in these challenging times. It is a testament to the consistent dedication and commitment of our employees to ensure that we continuously deliver value for our shareholders, our consumers, and the communities in which we operate.“

“In 2022, our focus remains on ensuring the safety and wellbeing of our employees, as well as providing affordable nutrition to enable consumers to nourish their families daily, while we work together to benefit mankind and our planet.

We will continue to push the boundaries of what is possible with foods, beverages, and nutritional solutions to enhance the quality of life and contribute to a healthier future for everyone today and for generations to come.”

Know More About Nestlé Nigeria: Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the company has been delighting consumers around Nigeria by consistently delivering high-quality nutritious food.

With a staff strength of over 2,200 direct employees, 3 manufacturing sites, 7 branch offices, and a head office located in Lagos, the company produces and markets several iconic brands including NESTLÉ PURELIFE, GOLDEN MORN, MILO, MAGGI, and NESCAFÉ.

Nestlé’s purpose is to unlock the power of food to enhance the quality of life for everyone today and for generations to come.

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Pepsi Naija Spices Up AMVCA Runway Show with Confam Fashion

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Pepsi Naija Spices Up AMVCA Runway Show with Confam Fashion

Pepsi Naija Spices Up AMVCA Runway Show with Confam Fashion

Olushola Okunlade Writes

As part of its contribution to driving pop culture in Nigeria, Pepsi Naija in partnership with Africa Magic Viewer’s Choice Awards (AMVCA) showcased a Pepsi-inspired collection at the first-ever AMVCA Runway show.

Ten super talented young fashion designers who participated in the show designed a Pepsi-inspired collection. Their designs incorporated the brand colors, logo, and other elements that represent the brand – authenticity, passion, and youth.

The keenly contested show saw Sophie Nwabunike and Obinna Omeruo emerge, as winners, each taking home, a N1 million cash prize to the delight of fashion designers, influencers, content creators in attendance, and Nigeria’s ace designer, Mai Atafo, who was the host of the event.

In addition to the spectacular display of fashion, Pepsi Naija in its usual style brought Confam Gbedu to the event with a thrilling performance by R&B group, Styl Plus. They got the crowd singing along to their classic hits.

Some of the attendees at the event were BBNaija host, Ebuka Obi-Uchendu; Nigerian Fashion guru, Denola Grey; popular model and TV presenter, Idia Aisien and on-air personality, Stephanie, Noble Igwe, Enioluwa Adeoluwa, Lanre Da-Silva Ajayi, and Adebayo Oke-Lawal.

Pepsi Naija sponsored AMVCA Runway Show to celebrate and promote ingenuity among African fashion creatives. Pepsi Naija is renowned for its age-long affiliation with Nigerian music and growing pop culture. Going by the colorful delivery of the Runway Show, the initiative is undoubtedly one that will further endear the brand to entertain audiences across the country. 

The AMVCA Runway Show is part of activities leading up to the 8th AMVCA Night scheduled for Saturday, May 14. You can tune in live on Africa Magic channels on DStv and GOtv, from 400 pm WAT.

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Glo Creates Excitement With NIN TV Adverts, Bonus Offer

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Glo Creates Excitement With NIN TV Adverts, Bonus Offer

…“At Glo, it is all about empowerment and value addition,”

Olushola Okunlade Writes

Globacom, the telecommunications powerhouse, has brought renewed excitement to television screens and online platforms with its recently unveiled suite of adverts.

The adverts provide information on how subscribers can link their National Identity Number (NIN) to their Subscriber Identity Module (SIM) on the Glo network.

Commenting on the launch of the adverts, the company noted that the Glo NIN Offer is a one-time bonus offer applies only to customers who were barred from making outgoing calls on the Glo network as directed by regulatory authorities due to NIN non-compliance.

Once subscribers link their NIN to their SIMS, they will get a N20,000 bonus which can be used to call, browse and text on the network.

At Glo, it is all about empowerment and value addition,” the statement continued. ”This is our welcome package to subscribers we have missed on the network.”

The adverts see a return to form for the telecommunications company with celebrity and influencer-led commercials that are heavy on humor.

Glo Creates Excitement With NIN TV Adverts, Bonus Offer

Riding on a mix of the old and modern, the adverts mine the town crier trope to great effect while the use of celebrities helps to heighten viewer engagement.

The adverts that are enjoying airplay on television and online platforms feature actors and actresses like Tina Mba, Patience “Mama Gee” Ozokwor, Victor Osuagwu, Mercy Johnson, Osas Ighodaro, Damilola Adegbite, Odunlade Adekola, Timini Egbuson, Yvonne Jegede and Jide Awogbona amongst others. Comedians Gordon, Funky Mallam, Dan D Humorous, and MC Forever are featured alongside skit maker, Broda Shaggi. At the same time, musical artists Simi, Teni, and Dija are also part of the cast of the funny, riveting, and highly informative adverts.

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Adamawa, Jigawa Shine In The Savanna Conference Of The 22nd Milo

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Adamawa and Jigawa Shine in the Savanna Conference of the 22nd Milo Basketball Championship

Adamawa and Jigawa Shine in the Savanna Conference of the 22nd Milo Basketball Championship

Olushola Okunlade Writes

Two outstanding teams – Government Secondary School, Numan, Adamawa State, and Dutse Model International Secondary School, Jigawa State have emerged champions in the boys and girls categories respectively at the Savanna Conference of the 22nd Milo Secondary Schools Basketball Championship.

The girls from Government Secondary School, Numan, Adamawa State, outclassed their Government Girls Secondary School, Bukavu, Kano State counterparts 20 to 8 to emerge champions in the girl’s category while the boys from Dutse Model International Secondary School, Jigawa State won by 51 to 23 against the boys from Nigeria Tulip International College, Yobe, Yobe State in the boy’s category.

Adamawa and Jigawa Shine in the Savanna Conference of the 22nd Milo Basketball Championship
Funmilola Oyewole, Category Development Manager, Nestlé Nigeria PLC addressing participants of the Savanna Conference of the 22nd Milo Basketball Championship at the Sanni Abacha Stadium, Kano.

Arinze Nancy Nicholas, coach of Dutse Model International Secondary School, Jigawa State sharing her excitement on behalf of her team for emerging winners of the competition, said “I have had the dream of winning this trophy since 2016, and today, I am happy that this dream has come to pass. I am also happy that we have qualified for the finale in Lagos. We are optimistic that we can also come to Lagos to win in the national finals.”

Category Manager for Beverages, Nestlè Nigeria, Mr. Olutayo Olatunji, reiterated Nestle’s commitment to developing talents, enforcing a healthier lifestyle, and instilling values and lessons for success through sports. He said, “MILO, firmly believes that through participation in sports, children learn life values that help them on their journey to success.

“We are therefore happy to continue to provide this opportunity of the MILO Secondary School Basketball Championship where these young ones can continue to find the opportunities for developing qualities including leadership skills, ability to work in a team, perseverance, courage, self-belief, and respect through their participation. In a nutshell, ‘the GRIT you learn in sport, you keep for life’. We are grateful to all who supported us to make another successful championship.

The Savanna Conference was hosted at the Sanni Abacha Stadium, Kano from the 8th to 12th of May 2022. The States that make up this Conference are Yobe, Borno, Taraba, Zamfara, and host Kano. Others are Gombe, Katsina, Bauchi and Jigawa.

The Champions in both the male and female categories of this Conference will compete with winners from the other three Conferences (Central- Ilorin: 14th – 20th May, Equatorial – Enugu: 21st – 27th May, Western Ibadan: 28th May – 3rd June) in the national final at the indoor sports hall of the national stadium in Surulere, Lagos from May 26 to June 30, 2022.

Adamawa and Jigawa Shine in the Savanna Conference of the 22nd Milo Basketball Championship
Wassim El-Husseini, MD/CEO Nestlé Nigeria PLC.

For over 2 decades, MILO has emphasized the importance of grit to teach schoolchildren vital life values such as determination, tenacity, endurance, perseverance, teamwork, and self-confidence. These values help them on their journey to succeed in life.

Nestlè will continue to spearhead grassroots sports development in Nigeria through its purpose of unlocking the power of food to enhance the quality of life for everyone today and for generations to come. The next conference of the Milo Secondary Schools Basketball Championship – Central Conference – will take place in Ilorin, the Kwara State capital from 14th – 20th May 2022.

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