Nestlé Côte d’Ivoire H1 Net Profit Up 52.3% as Revenue Jumps

AFRICAN STOCKS AND FINANCENovember 25, 2024 at 1:26 PM UTC

TLDR

Nestlé Côte d’Ivoire sees a 17.3% revenue increase to 116.44 billion FCFA in H1 2024 from strong local and export sales, particularly to Sahel countries and Guinea.
Operating profit rises by 37.1% to 20.91 billion FCFA due to effective cost management, resulting in a significant net profit growth of 52.3% year-over-year.
Key takeaway: Export growth and cost control strategies drive Nestlé Côte d’Ivoire's impressive performance despite potential challenges ahead.

BRVM-listed Nestlé Côte d’Ivoire (NTLC) reported a 17.3% rise in revenue to 116.44 billion FCFA for the first half of 2024, driven by strong local and export sales, particularly to Sahel countries and Guinea.

Operating profit increased by 37.1% to 20.91 billion FCFA due to effective cost management. Net profit grew significantly, up 52.3% year-over-year to 12.36 billion FCFA, reflecting improved operational efficiency and sales growth.

Ordinary activities' earnings reached 18.12 billion FCFA, a 43.74% rise compared to the same period last year. The company aims to sustain this growth trajectory in the second half of 2024 despite anticipated challenges.

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Key Takeaways

Nestlé Côte d’Ivoire's performance highlights the impact of strategic export markets like the Sahel region and Guinea. Cost control measures were pivotal in achieving a 52.3% profit surge. However, rising costs and economic volatility in export regions may test its resilience in H2 2024. The company's future success may depend on maintaining efficient operations and leveraging export demand while navigating macroeconomic pressures.

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