Nestlé Nigeria Books 16% 2009 Profit Increase

Nestlé's Nigerian subsidiary has posted a 16% year-on-year (y-o-y) increase in pre-tax earnings to NGN13.78bn (US$91.9mn) for the 12 months through to December 31 2009. With an annual sales revenue estimated at nearly US$400mn and operational presence in Nigeria since 1961, Nestlé is strongly placed to capitalise on a forecast 138.5% increase in headline food consumption to NGN13,760bn (US$91.8bn), as Nigeria's fast-moving consumer goods (FMCG) industry continues to develop apace from a low

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