Nestlé Nigeria Plc (NGX: NESTLE) has reported an impressive financial performance for the first quarter ended 31 March 2026, posting double-digit revenue growth and obvious improvement in profitability, underpinned by strong operational execution and a more stable foreign exchange environment.
Revenue grew by 11% to ₦326.13 billion in Q1 2026, compared to ₦294.88 billion in the corresponding period of 2025.
Gross profit rose to ₦132.06 billion from ₦119.72 billion, reflecting improved margins.
Profit before tax increased sharply by 44% to ₦73.77 billion from ₦51.15 billion, while profit after tax grew 29% to ₦38.998 billion from ₦30.178 billion in Q1 2025.
This marks the sixth consecutive quarter of profitability for the company since its return to profit in Q4 2024.
Results from operating activities stood at ₦75.43 billion, a modest 2% increase from ₦74.15 billion the previous year.
The company also recorded a notable improvement in its balance sheet, with total equity rising from ₦12.9 billion at 31 December 2025 to ₦51.6 billion at 31 March 2026.
Commenting on the results, Mr. Wassim Elhusseini, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, said:
Our Q1 2026 performance marks the sixth consecutive quarter of profitability since our return to profit in Q4 2024.
The double-digit revenue growth of 11% and profit after tax of ₦38.9 billion reflect the discipline and focus behind our execution and the strength of our operating performance supported by the stability of Naira against the Dollar.”
Looking ahead, Elhusseini outlined the company’s strategic priorities:
“We will continue to accelerate innovation and renovation to stay ahead of evolving consumer needs, strengthen margin management, cost and operational efficiencies across our value chain to fund growth.
We will also continue to invest in community programmes that create shared and sustainable value for all stakeholders.”
He added that the company will leverage targeted marketing investments to deepen brand relevance, win market share, and strengthen its competitive position while remaining vigilant to macroeconomic and geopolitical dynamics.
About the company
Nestlé Nigeria, one of Africa’s largest food and beverage companies, continues to deliver high-quality, nutritious products under iconic brands such as MAGGI, MILO, GOLDEN MORN, NESTLÉ PURE LIFE, CERELAC, NESCAFÉ, and NIDO.
The company operates three manufacturing sites and maintains a good distribution network across Nigeria.
Administrator and Writer
