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Nestle Lanka posts Rs 12.7 b revenue in first half

Nestle Lanka PLC, has recorded a revenue of Rs 12.74 billion for the six months ending June 30, 2011, marking a remarkable year-on-year growth of 22.5 percent.

Net profit surged by an impressive year-on-year 40.4 percent growth to Rs 1.26 billion, partially benefitted by the lower rate of tax.

With a basic earnings per share of Rs 23.45 up from Rs 16.71 over the same period in 2010 - the Swiss based company has once again ‘Created Shared Value’ for its stakeholders; a Nestle philosophy that claims that the company conducts business in a way where value can best be created both for society and shareholders.

The local Food and Beverage giant claims increased revenue has been fuelled by carefully tailored consumer-centric marketing activities, increased distribution across the Island, adoption of effective sales strategies, continuous Innovation and Renovation product initiatives and ongoing investments in the company’s state-of-the-art local manufacturing facility that has lead to greater efficiency.

Nestle Lanka Managing Director Alois Hofbauel “We closed 2010 on one of the highest notes ever in recent years. We are now continuing the momentum with renewed determination. Our results for the six months ending June 30 this year illustrate positive revenue performance, strong profits and robust growth trajectories.

This is a reflection on our strength as a team, our commitment to successfully overcoming adversity and a clear reflection of our strong upward momentum in the country.”

 

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