Nestlé Nigeria Plc has reported a loss before tax (LBT) of N221.589 billion for the financial year ended December 31, 2024, representing a 113% year-on-year (YoY) increase from 2023.
The company attributed the loss to rising finance costs, largely driven by the devaluation of the Naira.
However, Nestlé bounced back in Q4 2024, posting a profit after tax of N19.676 billion, a sharp recovery from the N36.406 billion loss recorded in Q4 2023.