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Tag: nestle

  • Nestle sponsors grants presentation to start-ups

    Nestle has sponsored the presentation of start-up grants to the beneficiaries of the 2019 edition of Youth Entrepreneurship and Empowerment Programme (YEEP). Put together by Activate Success International Foundation (ASIF), the beneficiaries of the programme were drawn from Kano, Benue, Kogi, Abuja, Niger, Delta and Plateau states respectively out of over 100 business proposals received from about 1000  youths who recently participated in the empowerment programme.

    TV Host and Founder of ASIF, Ms. Love Idoko said that YEEP was aimed at helping and encouraging young people to maximise their potentials. The beneficiaries, who were given their cheques at a brief event included those who were into fish farming, arts and craft, food processing, fashion, Information Technology and skin care products. She said: “The programme is held once every year; where youths register from all over Nigeria. We have people coming from all the states of the federation to attend this event and then we bring in young CEOs that have made remarkable achievements in different fields to speak to them and share their success stories.”

     

     

     

  • Nestle to pay N46.4b above-profit dividend

    The Board of Directors of Nestle Nigeria Plc has recommended distribution of N30.52 billion as final dividend for the 2018 business year, bringing total dividend payout for the year to N46.42 billion. The company had in November 2018 paid N15.9 billion as interim dividend.

    Shareholders will receive a final dividend per share of N38.50 in addition to interim dividend per share of N20, bringing total dividend per share for the year to N58.50.

    With the dividend payout above the N43.01 billion net profit recorded in 2018, the company explained that the total payout of N46.42 billion included net profit for the year and part of the net profit for the 2019 business year.

    According to the company, the final dividend of N38.50 per share comprised of N34.20 from the profit for the 2018 business year and N4.30 from the net profit for the 2019 business year.

    Key extracts of the audited report and accounts of Nestle Nigeria for the year ended December 31, 2018 showed that the company rode on the back of improved operating efficiency and finance cost management to optimise its bottom-line performance in 2018, growing net profit by 27.5 per cent to N43.01 billion.

    The report showed that turnover rose to N266.27 billion in 2018 as against N244.15 billion in 2017, representing an increase of 9.06 per cent. Cost of sales increased by 6.33 per cent from N143.28 billion in 2017 to N152.35 billion in 2018. Gross profit thus rose faster by 12.94 per cent to N113.92 billion in 2018 compared with N100.87 billion in 2017.

    Marketing and distribution expenses increased to N43.49 billion from N35.16 billion while administrative expenses dropped from N10.02  billion to N9.79 billion. Operating profit consequently improved from N55.7 billion in 2017 to N60.64 billion in 2018. Finance costs dropped by 82.75 per cent from N15.109 billion to N2.606 billion. Profit after tax grew by 27.53 per cent from N33.72 billion in 2017 to N43.01 billion in 2018. With these, earnings per share rose by 27.52 per cent to N54.26 in 2018 as against N42.55 in 2017. Total assets increased by 10.58 per cent to N162.34 billion in 2018 as against N146.80 billion in 2017. Shareholders’ equity also improved from N44.88 billion to N50.22 billion.

    Nestle Nigeria Plc Managing Director Mr. Mauricio Alarcon said the 2018 results were commendable in the light of the increasingly competitive business environment.

    According to him, the growth was driven by the continued loyalty of consumers as the company focused on consistently delivering high quality, tasty and nutritious food products adapted to their preferences.

    He said the company has continued to invest in innovation to keep delighting consumers with its iconic brands noting that the multi-cereal Nestlé Golden Morn Puffs fortified with iron was introduced during the year.

    “We look forward with cautious optimism in view of the challenging business environment.  We will focus on leveraging our capabilities to deliver value to our consumers and our shareholders as we contribute to the growth of the local economy and to improving livelihoods within our communities,” Alarcon added.

     

  • Nestlé commits to responsible sourcing

    Nestlé Nigeria has restated its commitment to responsible sourcing at its Supplier’s Day, which held in Lagos.

    The event brought together key  suppliers of raw materials, packaging materials, services and indirect materials to Nestlé.

    It was an opportunity to consolidate  relationships as well as ensure best practices in sourcing. With about 80 per cent local sourcing in the year, the food giant is poised to increasing its capacity in the coming years.

    “We work with more than 1,000 direct suppliers, 700 of which are local suppliers,” said Nestor Finalo, Supply Chain Manager for Nestlé Nigeria, adding: “We hope to invest more in local suppliers who are able to meet with the quality requirements of Nestlé.’’

    Responsible sourcing has been at the core of Nestlé’s operations, especially in a society where consumers and stakeholders want to know what is in their food, where it comes from and how it is made. Nestlé has responded to these demands by ensuring transparency and compliance in its supply chain. The company continues to urge its suppliers to adhere to the highest ethical standards and procedures.

    “All our suppliers must imbibe and adhere to good ethical practices whether in terms of labour laws, working hours or relationship with the environment. We have also put structures in place to ensure that quality is not compromised,” Finalo said.

    Also, a key player said: “We are confident that we will reach and surpass Nestlé’s standards on quality. We are happy about our partnership and hope to do more with Nestlé in the coming years.”

    Nestle Corporate Communications and Public Affairs Manager Victoria Uwadoka said: “The Suppliers Day presents a unique opportunity for us to celebrate everyone who supplies the products or services that help us produce high quality nutritious products. We are certain that this relationship will be sustained in the long term as we work together to meet consumer expectations by ensuring responsible sourcing practices.”

    Nestlé Suppliers Day will continue to be held yearly. There will also be opportunities for training, skills and capacity building for the company’s top suppliers.

    “This event will be carried out yearly to keep you abreast of the company’s best practices and to develop even stronger partnerships. We will also hold workshops and joint training to improve quality of deliveries and empower you, our esteemed suppliers,” Finalo added.

     

     

  • Nestlé raises awareness on healthy lifestyle

    Nestlé Nigeria has celebrated this year’s International Chef’s Day by hosting chefs and school children at the company’s headquarters in Ilupeju, Lagos. In line with this year’s theme: ‘Healthy Foods for Growing Up’, 50 chefs from the Association of Professional Chefs Nigeria engaged the children in fun activities, demonstrating how healthy eating helps  children to attain their dreams.

    The children shared what they wanted to become when they grew up, and for each exciting career choice, the chefs were able to explain how eating healthy foods could help them achieve their great career goals and encourage good eating habits to carry with them for life.

    International Chef’s Day, celebrated every October 20, offers chefs from around the globe a unique opportunity to network, promote their profession and make a difference in their local communities through making healthy eating fun and exciting for children.

    Speaking at the event, Gbechoevi Benoit, Executive Chef, Protea Hotel, encouraged the children to dream big, and eat right to be their best every day while working towards their career goals.

    “As we all know, good food equals good health. Learning to eat the right food in these early days of your life will set you on the right path to live a productive and successful life.

    “The theme for this year’s event is very significant for us in the Association of Professional Chefs of Nigeria as it is in line with our objectives to showcase and promote healthy African cuisine. We thank Nestlé for creating this platform for us to teach the next generation healthy food habits that will help them through their lifetime.”

     

    Nestlé Professional, the business unit that offers a wide range of Beverage, Food and Confectionery products, to the out of home customers, organizes a yearly event in collaboration with the World Chefs Association to raise awareness of healthier diets and lifestyles.

    Mr. Rabie Issa, Business Executive Officer for Nestlé Professional in Central West Africa said, “Supporting

    International Chefs Day through various activities and partnerships is part of Nestlé Professional’s commitment to improve global nutrition by raising awareness on healthy eating and increasing nutrition knowledge. This commitment contributes towards fulfilling Nestlé’s purpose of enhancing quality of life and contributing to a healthier future by teaching children to make informed choices and form healthier habits even at an early age.”

    Since its foundation, Nestlé has been committed to helping parents and caregivers provide the right nutrition for their children. International Chef’s Day 2018 is another opportunity for the company to work towards fulfilling this commitment. The theme, ‘Healthy Foods for Growing Up’, aligns with the three Nestlé for Healthier Kids (N4HK) action pillars – Build, Share and Apply Nutrition Knowledge, Offer Tastier and Healthier Choices, Inspire Families to Raise Healthier Kids. Launched in Nigeria in collaboration with the Federal Ministry of Education and the Federal Ministry of Health earlier this year, Nestlé for Healthier Kids promotes healthy lifestyles in schools by educating children and parents on nutrition and fostering physical activity. N4HK reaches over 60 teachers and 17,000 children in 30 schools closest to Nestlé Nigeria’s operations in Ogun State and the Federal Capital Territory.

     

  • Nestlé celebrates International Chefs Day

    Nestlé Professional Food Business, partners of Worldchefs, an organisation of chefs, yesterday marked the International Chefs Day under the theme: Healthy foods for Growing up. The event, which was held at Nestlé’s head office in Ilupeju, Lagos, attracted student from various public schools in Lagos State.

    According to Corporate Communications and Public Affairs Manager, Nestlé, Victoria Uwadoka, Worldchefs has been partnering with Nestlé Professional to teach kids around the world about the importance of healthy eating.

    According to Uwadoka, this year’s theme is intended to teach kids about healthy eating and letting them be creative with food. With the chefs’ input, education and help, the kids will be able to create recipes out of healthy foods, which will help turn them into the healthiest grown-ups they can be.

    She said the purpose of their partnership was to contribute ton the healthy future of all families of the world. “Worldchef Day is an opportunity for us to tell people the importance of healthy living.

  • How Nestlé offered economic opportunities to over 500 youths

    Through its global Nestlé Need YOUth Initiative, food and beverage giant Nestlé has offered economic opportunities to over 500 young people in Nigeria and other countries in West and Central Africa.

    Under its flagship programme, Nestlé Needs YOUth Initiative, the company focuses on entrepreneurship, “agripreneurship”, as well as providing work readiness skills to young people.

    The firm announced during the week that in Central and West Africa, over 500 young people have benefited from the programme through job fairs, internship as well as graduate and management trainee programmes as at 2017.

    In addition, over 4,200 people are operating their own businesses through the “My Own Business” (MYOWBU) and pushcart initiatives under the Nestlé professional out-of-home business.

    Globally, last year, the company provided more than 30,000 jobs and 11,000 apprenticeship opportunities to young people under 30.

    The Market Head of Nestlé Central and West Africa (CWA), Rémy Ejel, said the company wants to equip youths with the needed skills and offer them the right opportunities for their development.

    “By providing, growing and harnessing talents of young people, Nestlé can successfully contribute to building sustainable communities and spur economic growth. This is one of the concrete ways Nestlé creates shared value for the company and for the society,” Ejel said.

    Nestlé CWA youth initiatives contribute to the attainment of United Nations (UN) Sustainable Development Goals 2, 3, 8 and 11: Zero hunger; Good health & wellbeing; Decent work and economic growth as well as sustainable cities and communities respectively.

    The firm used the opportunity of the commemoration of this year’s International Youth Day on August 12 to highlight some of its efforts in youth empowerment. According to Ejel, the event provided the needed platform to find solutions to Africa’s high levels of youth unemployment, underutilised talents and skills.

    The company does this by exploring the opportunities for the development of youths in Africa and the world at large.

    Under the global theme: Safe Spaces for Youth, this year’s International Youth Day highlighted the importance of providing safe physical and digital spaces that harness the full potential and abilities of young people to ensure inclusiveness and to promote development.

    According to experts, the power of youths, their resourcefulness and ingenuity are strong contributing factors to the development of economies around the world. However, the majority of young people lack economic opportunities, which unfortunately leads to high levels of youth unemployment, underutilised talents and skills.

    A publication by the African Development Bank (AfDB) on Jobs for Youth in Africa, indicates that “of Africa’s nearly 420 million youth aged 15 to35, one-third are unemployed, another third are vulnerably employed and, only one in six is in wage employment”.

    As the world’s leading food and beverage company, Nestlé believes that communities cannot thrive if they cannot offer a future for younger generations. The company believes that providing youths with the right opportunities helps to create wealth and support the development of communities.

    In line with its purpose of enhancing quality of life and contributing to a healthier future, Nestlé has set an ambition to help 10 million young people around the world have access to economic opportunities by 2030.

    Already, the company is making progress in this regard. For instance, Lolia Kienka, a 26-year-old Nigerian, who holds an MSc in International Business, confirmed this.  After completing the Management Trainee Programme in Nestlé Nigeria, which spanned over almost two years, Lolia now holds the position of Corporate Communications and Public Affairs Specialist.

    According to her, “The programme is filled with excitement and fast paced learning. From hands on experience in field sales to complete brand management immersion, it was one of the most productively tasking and beautifully challenging times in my young career. I currently use the insight, knowledge and skills obtained in my new role.”

    For Kristi Olah Molle, Category & Channel Development Executive for Nescafé in Cameroun, Nestlé’s Global Youth Initiative offers so much more than just employment opportunity: “The programme provides the right platform for young people to express themselves, learn, take on challenges and assume business responsibilities.

    “My former position of Graduate Trainee helped me better understand and cope with key challenges of the Nescafé category where I find myself now”.

    Similarly, Marilyn Ofori started her career in Nestlé Ghana as a National Service Person in 2009. She has risen through the ranks to become the Category Manager for Beverages overseeing brands such as MILO and CHOCOLIM.

    She said: “The experience gained during my National Service days has shaped me into who I am today and it only took an opportunity to steer the direction of my career.

    “I believe that if more companies join the effort to give opportunities to young people like Nestlé does, it will help bridge the youth unemployment gap and explore talents that could help contribute to business excellence”.

     

  • Nestle, Unilever, Nigerian Breweries dominate bears on NSE

    Activities on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday closed on a negative trend, with Nestle leading the laggards’ table.

    Nestle, one of the highly capitalised equity, topped the losers’ chart with a loss of N10 per share to close at N1,500 per share.

    Unilever trailed with a loss of N3.75 to close at N51.25, while Nigerian Breweries lost N2.90 to close at N111 per share.

    Forte Oil was down by N2.90 to close at N26.10, while Conoil dropped by N2.50 to close at N27.50 per share.

    Consequently, the All-Share Index which opened at 37,499.07 shed 106.05 points or 0.28 per cent to close at 37,605.12.

    Also, the market capitalisation lost N38 billion or 0.28 per cent to close at N13.584 trillion compared to N13.622 trillion recorded on Tuesday.

    On the other hand, Eterna Oil led the gainers’ table for the day, increasing by 50k to close at N7 per share.

    Guaranty Trust Bank followed with a gain of 40k to close at N40, while Zenith International Bank added 30k to close at N24.30 per share.

    Read Also: NSE indicators rebound by 0.17%

    FCMB Group advanced by 20k to close at N2.28, while Dangote Cement Industries also grew by 20k to close at N223 per share.

    However, the volume of shares traded rose by 96.49 per cent, while the value increased by 18.11 per cent.

    Specifically, investors bought and sold 505.74 million shares valued at N3.13 billion exchanged in 3,354 deals, as against 257.39 million shares worth N2.65 billion in 3,932 deals on Tuesday,

    Multiverse was the most active stock for the day, trading 200.04 million shares worth N40.01 million.

    NAHCO followed with an account of 125.09 million shares valued at N747.33 million, while Guaranty Trust Bank traded 28.42 million shares worth N1.13 billion.

    Access Bank sold 18.91 million shares worth N195.44 million, while FCMB Group exchanged 13.91 million shares valued at N30.83 million.

    NAN

  • Nestlé Nigeria has introduced its new breakfast cereal

    At the product presentation to media executives at a breakfast meeting with Nestlé Nigeria, Mr. Aboubacar Coulibaly, Category Manager, Dairy, said that NESTLÉ GOLDEN MORN® Puffs, a breakfast cereal made from maize, millet, oats and soya, is fortified with GRAINSMART® – a unique combination of vitamins and iron.

    “Food fortification is a strategy that Nestlé has adopted to help address the burden of micro-nutrient deficiency. With 50% of our portfolio already fortified with micronutrients, the introduction of Golden Morn Puffs breakfast cereal today is another step towards the fulfilment of our commitment to provide healthier, delicious food choices for all age groups, a journey we have been on for the past 57 years in Nigeria.”

    He disclosed that 94% of the grains and cereals used in the production of Golden Morn Puffs is sourced locally.

    “We are very happy to announce to you today that the work we have been doing with local farmers for the past 7 years on capacity building and grain quality improvement is yielding results. 94% of the agricultural raw materials for the product we are launching today, Golden Morn Puffs was supplied by Nigerian farmers,” Coulibaly stated.

    Made from grains and cereals, the new product according to the company provides families with even more choices of tastier, healthier food.

    “It is fortified with vitamins and iron to contribute to the efforts to address micronutrient deficiency in the country.”

    Micronutrient deficiency is the lack of essential vitamins and minerals required in small amounts by the body for proper growth and development.

    According to WHO, 2 billion people in the world are affected by iron deficiency, which is the most common micronutrient disorder in sub-Saharan Africa.

    The major health consequences of deficiency in essential micronutrients include impaired physical and cognitive development, which translates to reduced performance of school-aged children among others.

    Annually, Nigeria loses over US$1.5 billion in GDP directly and indirectly to vitamin and mineral deficiencies.

  • NSE indices up by 0.04%

    Key indicators of performance at the Nigerian Stock Exchange ( NSE ) closed on Tuesday with a marginal growth of 0.04 per cent.

    The market capitalisation increased by N6 billion or 0.04 per cent to close at N15.408 trillion compared with the N15.402 trillion recorded on Monday.

    Similarly, the All-Share Index, which opened at 43,056.51, rose by 16.94 points or 0.04 per cent to close at 43,073.45.

    An analysis of the price movement table indicated that Nestle led the gainers’ table, appreciating by N20 to close at N1,400 per share.

    Mobil Oil followed with a gain of N8.70 to close at N183.70, while Dangote Cement recorded a gain of N3.40 to close at N268.40 per share.

    Total added N2.90 to close at N249, while Guinness appreciated by 80k to close at N99.80 per share.

    Analysts attributed the gains to investors taking position by buying shares of the companies for future gain, rather than a reaction to the improved audited results released by some companies so far.

    They said that the results were already discounted resulting to mixed performance being experienced in the market.

    On the other hand, Unilever recorded the highest loss to lead the losers’ chart, dropping by N3 to close at N57.80 per share.

    GlaxosmithKline trailed with a loss of N1.10 to close at N20.90, while Dangote Sugar Refinery depreciated by N1.05 to close at N22.30 per share.

    NASCON declined by N1 to close at N22, while Zenith International Bank shed 55k to close at N30.45 per share.

    Also, the volume of shares traded closed lower with an exchange of 407.96 million shares worth N6.12 billion transacted in 5,247 deals.

    This was in contrast with 831.39 million shares valued at N10.57 billion achieved in 5,651 deals on Monday.

    Zenith Bank was the toast of investors, accounting for 70.26 million shares worth N2.19 billion.

    It was followed by FBN Holdings having accounted for 53.02 million shares valued at N605.31 million, while Mansard Insurance traded 50.36 million shares worth N137.48 million.

    United Bank for Africa exchanged 27.38 million shares valued at N336.15 million, while Skye Bank traded 19.07 million shares worth N16.93 million.

    NAN

  • India fines Nestle $96,500 over ‘substandard’ Maggi noodles

    India fines Nestle $96,500 over ‘substandard’ Maggi noodles

    Authorities in northern India have fined Swiss food giant Nestle 96,500 dollars, after food inspectors found contamination in samples of its popular Maggi noodles, two years after the controversy first surfaced.

    Uttar Pradesh state’s Shahjahanpur district fined the Swiss firm 4.5 million rupees and its distributors 1.7 million rupees, taking the total penalty to 6.2 million rupees (96,500 dollars).

    “Food quality tests on Maggi samples found the product to be substandard.

    “The ash content, which include heavy metals, found in the samples were above permissible limits for human consumption,” district food quality chief DP Singh told dpa by phone.

    The samples were collected during raids on various distributors in 2015.

    The fine was only imposed two years later after authorities had heard detailed representations from Nestle and its distributors, Singh said.

    A spokesman for Nestle India asserted that Maggi noodles were “100 per cent safe” for consumption.

    Nestle said it appeared to be a case of “application of incorrect standards” and it would appeal against the order.

    Maggi noodles was banned in June 2015 for six months after India’s food regulator said the product was “unsafe and hazardous” levels of lead.

    Production began after the ban was relaxed later that year.

    Singh said while the 2015 ban was because of high levels of lead, the penalty was because of elevated levels of ash content.

    The yellow-and-red packages of Maggi noodles are a popular snack in India and can be found in shops in the furthest reaches of the country.

    NAN