Nestlé Nigeria posts N64.8bn half-year profit as FX gains rises - Businessday NG

…equity surges six-fold to N77.6bn after seventh straight profitable quarter

Nestlé Nigeria Plc has reported a 28 percent increase in half-year profit to N64.78 billion, as foreign exchange gains, steady consumer demand, and tighter cost management helped the food and beverage maker erase more than half of its accumulated losses and rebuild shareholders’ equity.

An analysis of the company’s unaudited financial statements for the six months ended June 30, 2026, shows that Nestlé has now delivered its seventh consecutive profitable quarter since returning to profitability in the fourth quarter of 2024, marking one of the strongest recoveries among Nigeria’s listed consumer goods companies.

The company’s accumulated losses narrowed sharply from N112.78 billion at the end of December 2025 to N48.00 billion in June 2026, while shareholders’ equity rose more than sixfold to N77.56 billion from N12.89 billion over the same period.

The improvement comes after two years in which manufacturers battled severe foreign exchange losses, inflationary pressures, and soaring borrowing costs following Nigeria’s currency reforms.