Nestlé to Inaugurate N4.6 billion New Water Factory in 2015

Yemisi Izuora

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Nestlé, the leading Nutrition,Health and wellness company will commission a new state -of -the- art, high technology water factory in Abaji near Abuja in 2015. The Chairman of the Board of Directors of Nestlé Nigeria Plc, Mr David Ifezulike disclosed this while addressing the shareholders at the 46th Annual General Meeting of the company held in Lagos today. He said that the new facility which occupies14.13 hectares reflects more than just an important investment to broaden Nestlé waters operation, it underpins also Nestlé’s commitment to the growth of Nigerian economy.

Speaking on the company’s results, Ifezurike said that Nestlé achieved strong growth in 2014 in Nigeria with a turnover of N143,328 billion representing an increase of 8percent over N133,084 billion recorded in the previous year. He said that although the 2014 results fell short of the company’s annual growth target , Nestlé significantly outperformed competition in the marketplace. He added that the company has delivered on its short- term commitment while continue to strengthen the foundations of future growth.

Commenting on the economy, Ifezurike commended the effort of the outgoing administration to privatize the energy sector towards achieving stable power supply.  He urged the incoming administration to ensure that the reforms in the sector are improved upon and completed so as to deliver to the Nigerian populace a stable power supply.

He however assured shareholders that Nestlé would continue to put the right action plans in place to face the headwinds in 2015 and deliver, as always solid results.

Nestlé Nigeria declared a final dividend of N17.50k per fifty kobo ordinary share from the pioneer profits in addition to the interim dividend of N10.00 per share already paid, making a total dividend of N27.50k per ordinary share repesenting an increase of 8% over the N25.50k paid in the previous year.

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