By Melvin Onwubuke

Nestle Nigeria Plc has announced a loss before tax of N104 billion for the year 2023.

This was disclosed in the 2023 Financial Statement of the company, published on the NGX on Wednesday 28, 2024.

According to the financial statement, it reported foreign exchange loss of N195 billion, which accounted for basically, the majority of the total loss by Nestle Plc.

Thus, the company’s shareholders funds was completed wiped out to a negative N78 billion from preceding N32.2 billion.

Details later…