News Update :

Nestlé Lanka records revenue growth of 13.5 % (YoY)

Sunday, August 12, 2012

Nestlé Lanka PLC, recorded a good revenue growth of 13.5 % (YoY) for the six months ending June 30, 2012, posting a revenue of Rs. 14.5 billion against the background of a difficult market environment.

A milk collection centre in a rural area operated by Nestle Lanka
The company announced a flat bottomline growth of -1 % (YoY), with a net profit of Rs 1,246 million due to currency depreciation and the rise in fuel, energy and other costs which resulted in a significant increase of costs for its manufacturing operations.

“2012 continues to be a very trying year for us. Despite the many challenges we face, we are maintaining a solid revenue growth and strengthening our leading position in our key categories.

However, external impacts on the bottomline are continuing to take its toll. Notwithstanding, Nestlé will continue its strong commitment to Sri Lanka and its people. We have continued to contribute significantly to the local rural economy and registered a 35 % increase in the procurement of local fresh milk. We remain committed to ‘Creating Shared Value’ for our local communities even during this difficult time.” said Alois Hofbauer, Managing Director of Nestlé Lanka PLC.

In 2011, the company’s overall contribution to the rural economy by way of fresh milk and coconut purchases was 3.6 billion, resulting in a 63 % increase in fresh milk and coconut procurement from 2010.

Source : Daily News
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