Nestlé reaffirms strong commitment to Sri Lanka at 30th AGM

Nestlé Lanka PLC, leading Nutrition, Health and Wellness Company in Sri Lanka, held its 30th Annual General meeting yesterday in Colombo, chaired by its Chairman and Market Head of Nestlé South Asia, Antonio Helio Waszyk.  

Nestlé Lanka Plc Chairman and Market Head of Nestlé South Asia Antonio Helio Waszyk (right) proposes a toast using a Nestomalt Mug at the Company’s 30th Annual General Meeting held on Wednesday. Nestlé Lanka Plc Managing Director Alois Hofbauer is also present

Key highlights of the AGM were the official introduction of Alois Hofbauer, who joined the company mid last year, to shareholders as the Managing Director of the company; the re-election of Pierre Schaufelberger (Vice President – Nestlé Zone AOA) and Mahen Dayananda (Chairperson of several organisations, including the Monetary Policy Consultative Committee of the Central Bank of Sri Lanka) as Directors of the Board; and the approval of a final dividend payout of Rs. 22.50, the highest payout by the company so far, bringing the full year dividend payout to Rs. 34.50 per share. This dividend will be payable to shareholders on 3 June 2011.

Speaking on the company’s future plans, the Chairman stated that the first phase of the company’s long term investment plans of Rs. 10 billion commenced last month. He added that Nestlé had a positive outlook on the future of Sri Lanka and that the company would be taking a far-sighted view of business development in the country to stimulate significant local development here.

“We are eager to work with the Government to elevate rural livelihoods and have already made significant inroads towards this,” said Waszyk.

“We were the first to pioneer the collection of fresh milk in the north and east and today we collect milk from 15,000 farmers nationwide everyday. We also procure significant volumes of local raw material for our wide range of food and beverage products. One good example would be the procurement of 38 million coconuts in 2010 for ‘coconut milk products’ sold locally and also exported to about 60 countries.”

Waszyk went on to say that the company enjoyed many success stories in 2010, not least in the acceleration of its performance and the recording of double digit growth both in sales and gross profit despite strong cost pressures.

“We are starting 2011 with continued momentum and look forward to delivering the right results to you once again” he added.