Nestlé Lanka revenue growth up 7%, Rs. 15.3 b for H1 2013

Wednesday, 7 August 2013 00:00 - - {{hitsCtrl.values.hits}}

Net profit of LKR 1.7 billion, mainly benefitting from a favourable exchange rate and comparatively lower commodity prices
Steps up contribution to rural economy – records its highest dairy milk intake in history with over 6.5 million liters in June 2013

Nestlé Lanka PLC has recorded a growth of 6.9% for the six months ending 30 June 2013, posting revenue of Rs. 15.3 billion against a difficult market environment.

The company saw a revenue growth of 7.1% for the second quarter while profit remained flat due to increased investment in trade, marketing and other consumer communication activities. Nestlé recorded a consolidated profit growth of 36%, however, for the first half of the year. “2013 continues to be a trying year. However, I’m pleased that we have been able to persevere and deliver 7% growth. We have also continued to contribute significantly to the local rural economy. I’m proud to announce that we recorded our highest ever monthly procurement of fresh milk from 18,000 local farmers in June. Notwithstanding the difficult market environment, we remain cautiously optimistic for the rest of the year and will continue to strive to strengthen our leading position in key categories,” said Ganesan Ampalavanar, Managing Director for Nestlé Lanka. The local food and beverage giant reached a milestone in June this year when it recorded its highest ever monthly procurement of local dairy milk, amounting to over 6.5 million litres. Nestlé manufactures some of its most popular products in Sri Lanka using local fresh milk, namely Nespray, Milkmaid, Milo and Shaktigen. The company also works actively with local farmers to help them increase their productivity and has won many accolades in recognition of its immense contribution towards developing the local dairy industry. “We continue to strive to make a difference in the lives of our all stakeholders with sustainable, responsible operations and food and beverages of the highest safety and quality,” said Amapalavanar.