Nestlé Nigeria Plc reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was NGN 134,822.11 million compared to NGN 111,021.44 million a year ago. Net income was NGN 6,913.32 million compared to NGN 12,401.11 million a year ago. Basic earnings per share from continuing operations was NGN 8.72 compared to NGN 15.65 a year ago. Diluted earnings per share from continuing operations was NGN 8.72 compared to NGN 15.65 a year ago.
For the nine months, sales was NGN 396,591.62 million compared to NGN 333,472.22 million a year ago. Net loss was NGN 43,068.03 million compared to net income of NGN 40,152.15 million a year ago. Basic loss per share from continuing operations was NGN 54.33 compared to basic earnings per share from continuing operations of NGN 50.66 a year ago. Diluted loss per share from continuing operations was NGN 54.33 compared to diluted earnings per share from continuing operations of NGN 50.66 a year ago.