Nestle Nigeria Reports 94% Drop in H1 2016 PAT

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nestleFood and beverage producer, Nestle Nigeria Plc on Friday said profit after tax (PAT) for the half-year (H1) period ended June 30, 2016 declined 94 percent to N535.81 million from N8.66 billion posted a year ago.

Similarly, profit before tax (PBT) of the beverage maker dipped 91.5 percent to N895.44 million from N10.61 billion declared the corresponding period of 2015.

However, revenue of Nestle climbed up to N80.44 billion from N65.92 billion declared in the H1 period of 2015, representing a growth of 22.02 percent, the company said in a filing with the Nigerian Stock Exchange (NSE)

Click here to view Nestle Nigeria Plc Unaudited Financial Statements for the Period Ended June 30, 2016