(Ecofin Agency) – Yesterday April 28, Nestlé Côte d’Ivoire closed its 6th consecutive day of gains on the regional stock exchange BRVM. If the company keeps this trend as forecasted, it will be well-positioned to hit its best stock gain since 2012.
Since January 1, 2021, Nestle CI’s value rose by 176.5%; a strong startup after four consecutive years of decline. Investors are attracted by the good yield outlook the company offers. Nestle CI plans to distribute nearly CFA9 billion in dividends for the year.
For the public, which holds 19.14% of the company’s shares on the BRVM, this represents a return of 58% based on the closing price of April 21 (CFA625), compared with the average market return of 7.7%.
For the first quarter of 2021, the company achieved a net profit of just over CFA4 billion, up 893% compared to the same period in 2020. This performance was supported by a 16% increase in sales due to improved productivity and a reduction in expenses.
Idriss Linge
