BUSINESS

Nestle Nigeria’s Share Closes At N1,215 To Lose 10%

 

Nestle Nigeria Plc’s share closed at N1,215.00 per share to lose 10% from the amount it traded at the end of the trading week last week.

Amidst sell-offs and buy-interests during the trading week, market capitalization lost a whopping N107.01 billion, causing the fast-moving consumer goods company to drop off the category of stocks worth over one trillion.

NewsBeatng gathered that Nestle’s market capitalization was valued at N963.08 billion, compared to the N1.07 trillion it valued at the end of last week.

The company’s H1 2022 financial result revealed a profit of N27.7 billion, representing a 28% increase from the prior-year period as revenue grew by 30% from N171 billion to N222 billion. Earnings per share for the period were N12.33.

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