Key Highlights
- Nestle Nigeria returned to profitability in the year under review after experiencing losses for two consecutive years.
- A significant factor in the return to profitability was the decline of foreign currency translation loss from N290.7 billion in 2024 to zero.
Nestle Nigeria has announced a return to annual profitability after two years of losses. The turnaround is primarily attributed to the elimination of foreign currency translation losses which had significantly impacted the company's financial performance in previous years. The foreign currency translation loss, which stood at N290.7 billion in 2024, declined to zero in the year under review, contributing significantly to the improved financial outcome.