GBOLABO AFUWAPE
Nestle Nigeria has rewarded its shareholders with a 40 percent rise of its proposed dividend for the full year ended 31 December, 2018.
The beverage manufacturing outfit proposed N38.50 dividend which is N11 better than the N27.50 of 2017 full year.
The audited financial report for the year showed that the rise in the dividend it proposed to pay it’s Shareholders, was triggared by rise in its bottom line by 27.53 percent from N33.724 billion recorded in 2017 full year to N43.490 billion recorded in 2018 full year.
It’s pre-tax profit grew similarly, as it advanced by 27.60 percent from N46.829 billion recorded in 2017 full year to N59.751 billion recorded in the same period in 2018.
The manufacturing firm showed immense effective management capabilities as it was able to attain a double-digit Profit After Tax (PAT) growth despite having a single digits top line (Revenue) growth. It’s Revenue grew by 9.06 percent from N255.151 billion of 2017 to N266.275 billion recorded in 2019.
Despite the harsh economic environment, Nestle succeeded to grow its cost of sales (COS) by 6.33 percent to amount to N152.354 billion in 2018 against N143.280 billion recorded in 2017.
It’s Earnings Per Share (EPS) also advanced in double digits, growing by 27.52 percent to amount to N54.26 recorded in 2018 against N42.55 recorded in 2017.
Comments are closed.