Nestlé Lanka grows 12% in 2012
Nestlé Lanka PLC, posted a revenue of Rs 7.2 billion for the last
quarter of the year. Impacted by volatility in the currency and tough
market conditions in 2012, the company delivered revenue of Rs 28.6
billion and growth of 11.7% for the full year ending December 31, 2012.
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Net profit for the full year at Rs 2.9 billion grew in line with
revenue growth and also benefitted from tax concessions on investments
in fixed assets (all figures are provisional and subject to audit).
“Volatile market conditions, currency depreciation and a significant
increase in fuel, energy and input costs posed massive challenges for
Nestlé Lanka in 2012. However we’re pleased that we were able to deliver
a double digit growth under difficult circumstances. We invested
responsibly and sustainably and, with creativity and innovation, laid
the foundation for future growth. Despite the many challenges we
foresee, we remain cautiously optimistic for 2013,” said Ganesan
Ampalavanar, Managing Director for Nestlé Lanka PLC.
Continuing its ongoing investments in its manufacturing facility in
Kurunegala, Nestlé Lanka has invested over Rs 3 billion in the last two
years. The company marked a significant milestone when it recorded its
highest annual procurement of local fresh milk in 2012; evidencing a
growth of over 20% from the previous year. This, together with its
procurement of other raw materials including coconut, marks the
company’s highest annual contribution to the rural economy; paying out
Rs 4 billion in 2012 to more than 23,000 local farming families.
The company continued to add to its new product portfolio for 2012 in
Q4 with Lactogrow - a unique growing-up milk formula fortified with
probiotics to stimulate a healthy gut flora, tummy comfort, visual and
growth development. Other innovations for the year were Maggi Ricey
noodles, the Maggi Devilled noodles range, Nescafé Ice coffee
ready-to-drink and the relaunch of Kit Kat. 2012 also saw the company
expand its communications offering to the digital platform, launching
its corporate website www.nestle.lk and its first Facebook page, Kit Kat
Sri Lanka. |