Vera Wisdom-Bassey
The Managing Director of Nestle Nigeria Plc, Mr. Mauricio Alarcon, said the organisation is pleased with the result so far achieved.
Alarcon, who made this known during the Annual General Meeting (AGM) held at Muson Centre, Onikan, Lagos, also attributed the result achieved to the loyalty of customers and consistent delivery of quality on the part of the organization.
“We are pleased with the sustained growth of our company, the loyalty of our consumers and the discipline and dedication of our people to provide tastier and healthier foods and beverages”.
He expressed optimism about the rest of 2019, adding that the current business model will keep delivering satisfactory results to shareholders and the society at large.
Speaking at the AGM also, one of the shareholders, Mr. Sunny Nwosu, who is the founder, Independent Shareholders Association of Nigeria, praised the management for the massive revenue declared and the 13,000 farmers the organisation empowered recently. He also advised the organisation to do more in terms of empowerment so as to increase the export capacity when it comes to farm products.
He was also against some of the regulations made by Security and Exchange Commission, and therefore advised the company’s board to ensure they checkmate and disapprove any form of regulation that will be against shareholders.
In terms of revenue, Nestle Nigeria has declared N71.0 billion for the first quarter of 2019, recording a growth of 5.2 per cent over the previous year. Gross profit for the period stood at N31.5 billion, compared to N25.8 billion during the previous year.