Nestle Turnover Hits N82.7bn

A foremost indigenous food and beverage firm, Nestle Nigeria Plc, has recorded a turnover of N82.726 billion in its financial year of 2010.

This was made known during the company’s 42nd Annual General Meeting held at the City Hall, Onikan, Lagos, where it was stated that the figure  is an increase of 21 per cent over N68.317 billion recorded the previous year.

The Board Chairman, Chief Olusegun Osunkeye, during the event explained that the result reflects the efforts that the firm has been making in order to deliver improved top and bottom line performance.

He said that the company would continue to keep her brand consumers relevant. While addressing the shareholders, Osunkeye hinted that the company inaugurated a N12 billion state-of-the-art Flowergate factory in Ogun State earlier in the year.

He added that the new firm would further strengthen the company’s role as the largest culinary manufacturing operation in Africa and Nestle’s 27th factory in Africa.

The  company also stated that it invested the sum of N3.6 billion to set up a tri-generation power plant at its Agbara Factory.

Osunkeye said that the new facility would ensure efficient use of energy in the company’s manufacturing operations in terms of generating power, produce chilled and hot water, increase energy efficiency from 42 per cent to 74 per cent as well as reduce Co2 emissions by 5,000 tonnes annually.

Source : Thisday