Nestle Lanka posts Rs 7,747 mn revenue in Q1

Nestle Lanka maintains consistent performance in Q1 with a growth of 7%. Nestle Lanka PLC posted a revenue of Rs 7,747 million for the first quarter of the year.

Operating in challenging market conditions, the company delivered a revenue growth of Rs 6.7% and profit of Rs 914 million benefitting from stable raw material costs and favourable currency in the current year, whilst currency depreciation significantly impacted the comparative period.

The 'Good Food, Good Life' company continued to add to its product portfolio in Q1 2013 with the launch of Sri Lanka's first ever milk based, glucose drink, Shaktigen and with Nangrow, a super-premium Growing-Up-Milk for toddlers. The company also continued to expand its digital communication engagement with consumers via the launch of two more facebook pages; 'Maggi Devilled Sri Lanka' and 'Nestle‚ Milkmaid Sweet Delights.' Nestle Lanka ended the first quarter of the year with a fair number of worthy accolades.

It was the only food company to be ranked within LMDs top 10 most valuable brands in 2013. Further, its food brand Maggi was voted by consumers as 'Food Brand of the Year' and 'Youth Food Brand of the Year' at the SLIM-Nielsen People's Awards 2013. The company continued to be recognised for 'Creating Shared Value' and received the Swarnadeepa Award 2012 from W. J. M. Lokubandara, Governor of the Sabaragamuwa Province and former Speaker of Sri Lanka, for significant contribution to Sri Lanka's agricultural sector.

'Year 2013 market conditions continue to be challenging, but our people have persevered in delivering consistent, good results. Our product innovations continue to be relevant to local consumer needs and I'm proud to say that our 'Creating Shared Value' strategy creates joint benefit for Nestle and society at every stage of our value chain. We continue to strive to make a difference to the lives of our all stakeholders with sustainable, responsible operations and safe food and beverages of the highest quality.

Despite the many challenges, we remain cautiously optimistic,' said Ganesan Ampalavanar, Managing Director of Nestle Lanka PLC.