Nestle enjoys healthy 1H

Wednesday, 3 August 2011 02:18 - - {{hitsCtrl.values.hits}}

Nestle Lanka Plc has posted healthy growth in both top line and bottom line performance in the first half of this year.

The Company’s revenue grew by 22.5% to Rs. 12.75 billion whilst gross profit improved by 15% to Rs. 4.2 billion in the first half as against the corresponding period of last year.

Pre-tax profit amounted to Rs. 1.7 billion, up by 23% from Rs. 1.38 billion achieved in the first half of 2010. After-tax profit rose by 40.3% to Rs. 1.26 billion as per provisional results released yesterday.

The first half had been boosted by a strong second quarter with revenue of Rs. 6.3 billion, up from Rs. 5.1 billion and pre-tax profit of Rs. 871.3 million, up from Rs. 640.7 million in the second quarter of last year. Net profit was Rs. 644.3 million in the second quarter ended June 30, 2011, as against Rs. 415 million a year earlier.