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Nestle Nigeria Plc, International Breweries Plc announce financial results for Q3

Nestlé Nigeria Plc and International Breweries Plc have announced their financial results for nine months period ending Sept. 30, 2019. In the financial results which were presented to the Nigerian Stock Exchange showed that for the period January to September 2019, Nestle recorded revenue of N211.3 billion – a growth of 4.0 percent over the same period in the previous year and a profit after tax of N36.8 billion.

According to the unaudited financial statements of the company, Nestlé Nigeria Plc posted revenue of N69.4 billion and profit after tax of N10.6 billion in Q3 2019.

It said that the Board of the company at its meeting held on Oct. 29, 2019, approved an interim dividend of N25 per share.

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Also, International Breweries Plc has released its Q3 unaudited 2019 results for the period ended September 30th, 2019.

Revenue of the company grew by 16.69% to 97.3bn from 83.3bn in Q3 2018. Loss before Tax stood at N24.1m in Q3 2019 while Loss after Tax stood at N16.4m in Q3 2019

Net Assets also declined by 46.8% to 18.7bn from 35.2bn