Nestlé Nigeria Posts 2008 Earnings

Nestlé Nigeria, a subsidiary of the Swiss based food and drink giant, has reported after tax profits of NGN8.33bn (US$56.57mn) for the year ended December 31 2008. The posting represents impressive year-on-year (y-o-y) growth of 53.13% and reflects the market opportunities available in Africa's most populous country. An optimistic sentiment enhanced by our forecast that per capita food consumption is set to grow by 28.86% between 2009 and 2013, albeit from a very low base of

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