Tuesday, 5 November 2013

STOCKS NEWS AFRICA-Nestle Nigeria rises to all-time high

Nestle Nigeria rises 11 pct in three consecutive trading

Shares in Nestle Nigeria climbed to an all-time high, extending their third consecutive gain in a row after the local unit of the world's biggest food group, Nestle SA grew its nine months pre-tax profit by 11 percent to 20.37 billion naira.
Nestle rises 5 percent to 1,185.19 naira ($7.47), making it the most expensive stock on the local bourse and outperforming the Nigerian Stock Exchange all-share index, which rises by 0.45 percent to 37,937 points.

The food company has gained 61 percent so far this year. The company had proposed 1.50 naira interim dividend payout to shareholders from its profit for the 9-month period ended Sept. 30.
Source: Reuters

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