Nestle Nigeria Plc has notified the Nigerian Stock Exchange (NSE) and the Investing public of the upcoming meeting of the company’s Board of Directors.
The meeting which is scheduled for 29 July 2020, is to consider the draft of the company’s unaudited financial statements for the period ended 30 June 2020.
Nestle Nigeria, in the notification signed by the Company Secretary/Legal Adviser B.B Ayeku dated 13 July 2020, also announced a closed period with effective date of 14 July to 31 July 2020.
In line with the rules of the NSE, no Director, person discharging managerial responsibility and adviser of the company and their connected persons shall deal in the securities of the Company during the closed period.
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Nestle Nigeria Plc is into the business of manufacturing, marketing and distribution of food Products.
In its first quarter unaudited financial statements for the period ended 31 March 2020, the company recorded a 1% decline in revenue to N70.329 billion from N70.966 billion posted in the same period in 2019.
Profit for the period dropped by 13% to N11.195 billion in Q1 2020 from N12.846 billion in Q1 2019, while EPS decreased to N14.12 from N16.21.
The share price of Nestle has remained unchanged at N1,175.00 per share from 6 July 2020. The 52 week high and low price is N1,469.90 and N764.90 respectively. YTD the share price is down by 20.06%.
Written by;
Ifunanya Ikueze
