Nestle Nigeria Posts 33% Jump in Annual Profit as Revenue Climbs

Nestle Foods Nigeria Plc (NESTLE), the West African nation’s largest food company by market value, posted a 33 percent jump in full-year profit as revenue increased.

Net income for the 12 months to Dec. 31 climbed to 16.8 billion naira from 12.6 billion naira a year earlier, the company said in a statement e-mailed by the Nigerian Stock Exchange today.

Revenue advanced to 98 billion naira from 80.1 billion naira, Nestle Foods Nigeria said.

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