Revenue rises by 12 per cent to N650.8 billion as the foods and beverage company sustains profitability for the seventh consecutive quarter
Nestlé Nigeria PLC has reported strong financial results for the first half of 2026 (H1 2026), characterized by double-digit top-line revenue expansion, improved profitability, and a strengthened equity base.
According to the company’s financial statements for the six months ended June 30, 2026, filed with the Nigerian Exchange Limited, profit after tax (PAT) jumped 28 per cent year-on-year to ₦64.8 billion, up from ₦50.6 billion recorded in the corresponding period of 2025.
The consumer goods giant generated ₦650.8 billion in revenue, representing a 12 per cent increase compared to ₦581.1 billion in H1 2025. This growth was underpinned by sustained consumer demand for the company’s portfolio of trusted brands, strategic pricing adjustments, and improved distribution networks across the federation.
This performance marks seven consecutive quarters of profitability since the company returned to profit in the final quarter of 2024.
Operating profit expanded by 8 per cent to reach ₦141.4 billion against ₦130.4 billion recorded in H1 2025.
The profit before tax (PBT) surged 43 per cent to ₦126.8 billion compared to ₦88.4 billion in H1 2025.
Analysts note that the disparity between operating profit and pre-tax profit suggests a significant improvement in the company’s finance income or a reduction in net finance costs, likely aided by a more stable foreign exchange environment and prudent treasury management.
A notable highlight of the report is the dramatic strengthening of Nestlé Nigeria’s balance sheet. Total equity expanded nearly sixfold, rising from ₦12.9 billion at the end of December 2025 to ₦77.6 billion at the end of June 2026.
This sharp increase underscores the company’s ability to generate value and reduce leverage, moving it further away from the negative equity positions that plagued it during the currency volatility of prior years.
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Commenting on the financial results, Mr. Wassim Elhusseini, CEO/Managing Director of Nestlé Nigeria PLC, expressed confidence in the company’s strategic direction.
He said the company’s performance in the first half of 2026 highlights its continued progress in strengthening its business fundamentals.
“The delivery of a seventh consecutive quarter of profitability since our return to profit in Q4 2024, alongside 12% revenue growth and Profit After Tax of ₦64.8 billion, reflects the resilience of our brands, the discipline of our execution and the commitment of our people,” Elhusseini stated.
He added, “We remain optimistic about the outlook and will continue to pursue sustainable, profitable growth with focus and prudence.”
H2 2026 Outlook
Looking ahead to the second half of the year, Nestlé Nigeria reaffirmed its strategy to deepen consumer relevance through continuous product innovation and renovation. The company emphasized an unwavering focus on margin management, enhancing operational efficiency across the value chain, and making targeted investments to safeguard the long-term health of its brands.
The company also reiterated its commitment to its workforce and the communities it serves, promising to remain agile in the face of evolving macroeconomic conditions and geopolitical uncertainties.
Investors and market analysts will be watching closely to see if Nestlé Nigeria can sustain this recovery pace, particularly as the company navigates the persistent challenges of input costs and consumer spending patterns in the country.
Victor Ezeja is a Nigerian journalist skilled in producing insightful news analyses, feature stories, and interviews that simplify complex issues and drive informed public discourse. His work combines rigorous research, balanced reporting, and compelling storytelling to highlight developments shaping industries and society. Victor, who holds a Master's Degree in Mass Communication, specializes in energy, aviation, business, and economic reporting. He can be reached via @VICTOREZEJA on X