Nestlé Nigeria's Pre-Tax Profit Soars 51.5% in 2026

Nestlé Nigeria Plc recorded a pre-tax profit of N193.88 billion for the nine months ending September 30, 2026, marking a 51.5% increase from N127.96 billion in the same period of 2025. This growth was attributed to stronger gross margins and a 73% reduction in net finance costs.

The company's revenue increased by 10.4% to N976.53 billion from N884.54 billion, while profit after tax rose by 42.6% to N103.37 billion from N72.48 billion. Earnings per share increased to N130.41 from N91.44.

Notably, consumer promotional expenses rose to N60.78 billion from N37.04 billion, impacting distribution costs. The pre-tax margin improved to approximately 19.85% from 14.47%, and the operating margin increased to 21.32% from 20.50%.

In the third quarter, profit after tax surged by 76.2% to N38.60 billion, with quarterly revenue up 7.4% to N325.77 billion. The effective tax rate rose to approximately 46.7% from 43.4%.

Managing Director and CEO Wassim Elhusseini noted this as the eighth consecutive quarter of profitability since returning to profit in Q4 2024.