Nestle Nigeria Plc records revenue growth of 5.2%

 

Nestle Nigeria PLC, Nigeria’s leading Nutrition, Health and Wellness Company in the world, released its’ Q3:2015 results for the nine month ended 30th September 2015.

• The company recorded a revenue growth of 5.2% Q3:2015. Its’ gross profit up 8.4% to N48bn (Q3:2014, N44bn. despite a challenging business environment and continued weak consumer sentiment

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• Net profit for the period improved by 2.2% despite higher input costs resulting from the  devaluation of the Naira and increases in financing costs.
  
  
• The company declared an interim dividend of Ten Naira (N10.00k)
  
• Currently trading at N830 per share and at a P/E of 34.11, we place a BUY on the shares of Nestle Nigeria PLC with price target of N1050.00 representing upside/downside of 26.51%.

Credit: AAML