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Nestle Records Bumper 2011 Profits, Distributes N 11.05 Dividend to Shareholders

By on February 21, 2012

Nestle provided its audited reports for the 2011 financial year to the Nigerian Stock Exchange today, declaring a bumper net income of N 16 billion, up 33.4% from the N 12.6 billion it made in 2010.

In order to reward its shareholders, NESTLE also made N 11.05 available as a dividend.

Revenue reported for 2011 was N 97.9 billion, up 22.3% from the N 80 billion the manufacturers of Milo beverage generated in 2010.

Profit before tax only increased slightly by 1.6% to N 18.5 billion in 2011 from N 18.24 billion in 2010.

A lower tax liability, down by 69.3 billion to N 1.7 billion in 2011 from N 5.6 billion in 2010, was responsible for the huge growth in net income.

Nestle stock did not record any movement today and is currently trading at N 441.