Nestlé Nigeria Plc reported a 10.4 per cent increase in revenue to N976.53bn for the nine months ended September 30, 2026, while profit after tax rose by 42.6 per cent to N103.37bn, according to its unaudited interim financial statements.
The food and beverage manufacturer’s revenue increased from N884.54bn in the corresponding period of 2025, while profit for the period climbed from N72.48bn, reflecting improved earnings despite higher operating expenses.
Profit before income tax rose by 51.5 per cent to N193.88bn from N127.96bn a year earlier, while results from operating activities increased by 14.8 per cent to N208.21bn from N181.34bn.
Gross profit grew by 20.2 per cent to N392.86bn from N326.88bn, supported by higher revenue. However, cost of sales increased to N583.67bn from N557.66bn, indicating continued cost pressures across the company’s operations.
Marketing and distribution expenses rose by 32.8 per cent to N148.39bn from N111.76bn, while administrative expenses increased to N37.24bn from N34.75bn. The increase in selling and distribution costs was a notable expense pressure during the period.
Net finance costs, however, narrowed to N14.33bn from N53.39bn in the corresponding period of 2025, providing significant support to profit before tax. Finance income increased to N37.14bn from N1.79bn, while finance costs declined to N51.47bn from N55.17bn.
Income tax expense increased to N90.51bn from N55.47bn, reflecting the higher profit recorded during the period. Earnings per share rose to N130.41 from N91.44 in the corresponding period of 2025.
The company’s third-quarter performance also improved. Revenue for the three months ended September 30, 2026, rose by 7.4 per cent to N325.77bn from N303.42bn in the corresponding quarter of 2025.
Profit for the quarter increased by 76.2 per cent to N38.60bn from N21.91bn, while results from operating activities advanced by 31.3 per cent to N66.85bn from N50.90bn.
The quarterly figures indicate stronger earnings momentum in the three months to September, with profit growing substantially faster than revenue.
On the balance sheet, total assets stood at N962.73bn as of September 30, 2026, compared with N846.16bn at the end of December 2025. Cash and short-term deposits increased to N120.39bn from N35.42bn over the same period.
Total equity rose to N116.27bn from N12.89bn, supported by the reduction in accumulated losses to N9.40bn from N112.78bn. Total liabilities increased to N846.46bn from N833.27bn.
The cash flow statement showed that net cash generated from operating activities declined to N210.62bn from N248.41bn in the corresponding period of 2025, despite the improvement in reported earnings.
Net cash used in investing activities narrowed to N60.39bn from N67.75bn, while net cash used in financing activities fell to N64.77bn from N179.83bn. These movements contributed to an increase in cash and cash equivalents during the period.
Nestlé Nigeria manufactures, markets and distributes food and beverage products, including Maggi, Milo, Golden Morn, Nescafé and Nestlé Pure Life.