Nestle Plc 2013 audited financial statement showed the company recorded an impressive result despite economic downturn as turnover spiked by 14 percent to N133.08 billion from N116.77 billion recorded same period 2012.
Operational expenses in the period under review however increased by 19.6 percent to N28.93 billion from 24.17 billion 2012FY while finance cost surged by percent by 16 percent y/y to N2.14 billion compared with N1.84 billion 2012FY.
Nestlé’s profits before tax (PBT) for the 2013FY rose marginally by 4 percent y/y to N26.05 billion from N25.06 billion 2012FY caused by the huge operational and finance cost.
Gross profit margin remained flat at 43 percent y/y, while Net profit margin dropped to 16.6 percent in the review period as against 18 percent 2012FY
The company’s return on assets (ROE) slowed to 54.8 percent 2013FY from 61.8 2012FY, while return on assets dipped to 20.55 percent in 2013 compared to 23.75 percent in 2012.
The company with a view to magnifying shareholders value is proposing a dividend of N24 for every one share held.
Total assets for the final year end 2013 jumped 21.96 percent to N108.12 billion compared with N88.96 billion erstwhile 2012, it also means that the company is deploring more assets to boost efficiency.
Nestle Nigeria Plc, the largest West Africa’s food company by market value has 792.6 million shares outstanding and shareholders fund of N40.59 billion as at December 31, 2013.
The share price has risen by 23.33 percent over the past year and close at N1071.31 on the floor of the Nigeria Stock Exchange on Friday.
Nestle had a market capitalization of N8493.18 billion as at 28 February 2014.
By: BALA AUGIE
