Nestlé Lanka revenue grows by 10.2 %
Nestlé Lanka PLC, posted total revenue of Rs 21.6 billion with a
growth of 10.2 % for the nine months ended September 30, 2012 amid a
challenging market environment. The performance of the third quarter of
2012 marks a 4.1% (YoY) revenue growth for the local subsidiary of the
world’s leading food and beverage company. The current volatile market
conditions, with the currency depreciation and a significant increase in
fuel, energy and input costs posed massive challenges for Nestlé Lanka
this year.
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Nestlé chilling centre |
The company has been able to offset most of these impacts through a
series of price increases, cost saving initiatives and tax relief
relating to the investments made by the company in the last two years.
Net profit for the period shows a marginal improvement.
The company made a significant mark in history in September this
year, by announcing its highest ever procurement of local dairy milk of
over five million litres and confirming a contribution of Rs 2.6 billion
to the rural economy for the full year.
Commenting on the results, Managing Director of Nestlé Lanka PLC,
Alois Hofbauer said, “2012 continues on as a challenging year for our
organisation. However, we will keep our targets in sight and strive to
maintain the momentum for the remainder of the year. Despite the
difficult conditions we currently operate in, Nestlé Lanka continues to
uphold its commitment towards the development of the country’s rural
economy.
We’re extremely proud to have achieved our highest ever intake of
fresh milk in September this year, enabling us to further elevate the
livelihoods of over 18,000 dairy farmers in the island. |
