Nestle Nigeria shares soar to a new record high
Nestle Nigeria climbed 49 naira per share to close at 1,103.55 naira ($6.95) on 111,751 units traded…Nestle Nigeria climbed 49 naira per share to close at 1,103.55 naira ($6.95) on 111,751 units traded, helping lift the all-share index up 0.67 percent to 37,622 points.
The company, which is majority owned by Swiss food firm Nestle SA, earlier said its nine-month pretax profit rose to 20.37 billion naira ($128.22 million), up 11.43 percent from the same period a year earlier.
Nestle shares have surged more than 50 percent since the start of this year, on low volumes, to become the most expensive stock on the bourse on a per share basis. Shares gained 57 percent in 2012.