Nestlé Nigeria Hits Highest Price in 52-Week
Nestlé Nigeria Plc hit its highest price level in the last 52-week in the equities market as offshore investors made strategic bets amidst annual general meeting of the shareholders.
The consumer goods stock rose by about 5% in the equities segment of the Nigerian Exchange as investors sentiment improved following negative earnings per share of 207 kobo reported.
On Friday, Nestle Nigeria share price climbed to N1020 as more than 2.352 million shares valued at N2.398 billion exchanged hands in the local bourse, a rally driven by offshore interest in the company stock.
Nestle Nigeria Plc held its annual shareholders meeting on Friday to lay its audited financial report before the owners of the business. In its regulatory filing, Nestle Nigeria net loss surged by 107% year on year to N164.595 billion despite significant revenue growth in the period.
The company’s revenue climbed by 75% year on year to N958.814 billion in 2024, from N547.118 billion in the comparable year in 2023, supported by price hike and volume drive.
The consumer goods company revealed that apart from Societe Des Produits Nestlé S.A, Switzerland with 561,280,306 ordinary shares representing 70.81% of its shares outstanding, no other shareholder held 5% or more of the paid-up capital of the Company as at 31 December 2024. #Nestlé Nigeria Hits Highest Price in 52-Week Naira Tumbles as FX Demand Pressures Heat Up, Spread Reduces
