Nestlé Nigeria has unveiled a new product, Golden Morn 3 in 1, aimed at addressing local nutritional needs and improving food accessibility for consumers. This launch is part of the company's strategy to expand its product offerings and provide affordable nutrition.
Some key highlights of the product include:
- Fortified Nutrition: The package is fortified with essential nutrients supporting overall well-being.
- Affordability: The product reduces the cost of enjoying a nutritious meal.
- Research and Development: The product was developed over two years at Nestlé's Research and Development centre to address local nutritional needs.
- Expansion Strategy: The launch is part of Nestlé Nigeria's strategy to expand its product offerings and improve food accessibility in Nigeria.
Nestlé Nigeria Plc has announced its financial results for the year ended December 31, 2024, reporting a loss before tax (LBT) of N221.589 billion, representing a 113% year-on-year increase from 2023.
Key Point: Despite reporting a significant loss before tax, Nestlé Nigeria Plc achieved revenue growth of 75.2% to N958.8 billion and a 35.6% increase in operating profit to N167.9 billion, demonstrating robust operational performance in a challenging market.
The company attributed the loss to rising finance costs, primarily driven by the devaluation of the Naira. However, the revenue growth and increased operating profit indicate that Nestlé Nigeria Plc's operational performance remains strong, despite the challenging market conditions.
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