Nestle Nigeria first-quarter pretax profit fell 50.7 per cent to 3.48 billion naira ($17.5 million) from a year ago, the food and beverage maker said on Monday.
Revenue fell to 27.55 billion naira for the three months to end-March from 33.42 billion a year earlier, the unit of Nestle SA said in a filing to the Nigerian Stock Exchange.
Similarly, Nigerian conglomerate UAC’s first-quarter pretax profit fell 12 per cent to 2.29 billion naira ($11.5 million) from a year ago, it said on Monday.
Revenue fell to 17.72 billion naira during the three months period to end-March, as against 19.88 billion naira the previous year, UAC said in a filing with the Nigerian Stock Exchange.
Elsewhere, MRS Oil fell to a first-quarter pretax loss of 734.5 million naira ($3.7 million) after posting a profit of 321.1 million a year earlier, the fuel retailer said on Monday.
Turnover, operating under the name Chevron Nigeria, fell 12 percent to 21.3 billion naira in the three months to end-March, the company said in a statement with the Nigerian Stock Exchange.
Source# PM News#
