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Nestlé Nigeria: “Too Early To Quantify” Impact Of COVID-19 On Business

May 11, 2020: 12:00 AM EST
Nestlé Nigeria Plc reported revenue of $194 million in the quarter ended March 31, 2020, slightly below the $196 million reported in the same period of 2019, according to the unaudited financial results posted on the Nigerian Stock Exchange (NSE) website. Profit before tax stood at $48.15 million, down from $53 million recorded in the same quarter of 2019. The company said in a statement that during the COVID-19 pandemic it is “working closely with the government, health authorities and other private sector players to respond to the challenge.” The company noted that it is too early to quantify the overall impact of the pandemic on its financial position, results of operations, or future cash flows.[Image Credit: © Nestlé (Malaysia) Berhad]
Samed Olukoya , "Nestlé Nigeria Reports N17.454bn Profit in Q1 2020", InvestorsKing, May 11, 2020, © InvestorsKing
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