Nestle Posts N23.7bn Profit in 2015

Nestle Posts N23.7bn Profit in 2015
Oladejo Amos
Nestle Nigeria on Wednesday reported a profit after tax of N23.7 billion for the financial year ended December 31, 2015, a marginal increase of 6.8 per cent from N22.2 billion recorded in the same period of 2014.
The company has proposed a final dividend of 19.00 naira per share. The figure represents an increase of 19 per cent over the payout to shareholders last year.
The company, which recorded a decline of 19.6 percent in finance income, declared a revenue of N151.3 billion, from N143.3 billion recorded in the corresponding period of 2014.
According to the result presented to the Nigerian Stock Exchange, finance costs dropped eight per cent to N5.31 billion, from N4.87 billion recorded the preceding year.
However, the company paid higher taxation in the review period, from N2.21 billion in 2014 financial year to N5.59 billion in the review period.
Further analysis showed that its cash and cash equivalents rose to N12.9 billion, from a paltry sum of 3.70 billion in the same period of 2014, while net assets increased to N38.0 billion, from N35.9 billion.
The company gross margin appreciated marginally by 1.8 per cent to 44.5 per cent to N42.7 per cent, while net margin rose to 15.7 per cent from 15.5 per cent.