Nestlé Nigeria Plc recorded well-rounded performance in the first quarter, recovering from a loss position of N196 billion to a profit of N51 billion.

Key extracts of the interim report and accounts of Nestle Nigeria for the three-month period ended March 31, 2025 showed that turnover rose by 61 per cent to N294.9 billion in first quarter 2025 compared with N183.48 billion in first quarter 2024. Operating profit jumped by 254 per cent to N74.1 billion as against N20.9 billion in comparable period of 2024. Profit before tax stood at N51.2 billion, in contrast to the loss of N196.1 billion recorded in corresponding period of last year. After taxes, net profit closed first quarter 2025 at N30.2 billion, compared with net loss of N142.7 billion in first quarter 2024. The company’s net finance costs had dropped significantly from N217.08 billion in first quarter 2024 to N22.99 billion in first quarter 2025.

Managing Director, Nestlé Nigeria Plc, Mr. Wassim Elhusseini, said the results for first quarter 2025 reflected the company’s unwavering commitment to operational excellence and strong fundamentals.

He said the results marked a successful continuation of the company’s return to profitability initiated in fourth quarter 2024.

According to him, the robust topline growth of 61 per cent and profit after tax demonstrated that the company’s focused efforts were yielding desired results led by a strong operating performance.

“We will remain dedicated to driving innovation and renovation to meet evolving consumer needs, enhancing our margin management initiatives, and investing in community programs that deliver sustainable value to all our stakeholders,” Elhusseini said.

He added that the result highlighted Nestlé’s commitment to consistently delivering long-term value to its shareholders while effectively navigating the challenges of the current business environment.

SOURCE: THE NATION