By Modupe Gbadeyanka
One of the big players in the food manufacturing industry in the country, Nestle Nigeria Plc, has posted strong earnings in the first quarter of 2017.
This was largely due to the trust and loyalty consumers of the firm have had in its various brands despite inflationary pressures, weak purchasing power and the challenging operating environment.
In the financial statements released on Friday, Nestle recorded a growth in its revenue by 69 percent, staying at N61.2 billion versus N36.1 billion a year ago.
Also, the pre-tax profit of the company moved to N14.3 billion from N8.7 billion, while its post-tax profit stood at N8.4 billion in the period under review against N6.7 billion in the corresponding period of 2016.
This was largely due to internal cost saving initiatives, operating efficiency and topline growth embarked on by management of Nestle Nigeria Plc.
However, the board and the management of the company remain optimistic about the long term potential of the business despite the current macroeconomic environment.
It was gathered that the company will continue to increase investments behind brand and route-to-market activities while proactively managing input cost pressures.
Dipo Olowookere 
Adedapo Adesanya