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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Nestlé Lanka announces revenue growth of 10.2% amidst tough market conditions

Nestlé Lanka announces revenue growth of 10.2% amidst tough market conditions

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K.Haputantri

K.Haputantri
Co-Admin
Nestlé Lanka announces revenue growth of 10.2% amidst tough market conditions
November 2, 2012, 7:57 pm
The Island

Sri Lanka’s leading Nutrition, Health and Wellness Company, Nestlé Lanka PLC, posted total revenue of LKR 21.6 billion with a growth of 10.2% for the nine months ended 30 September 2012, amidst a challenging market environment. The performance of the third quarter of 2012 marks a 4.1% (YoY) revenue growth for the local subsidiary of the world’s leading food and beverage company.

The current volatile market conditions, with the currency depreciation and a significant increase in fuel, energy and input costs posed massive challenges for Nestlé Lanka this year. The company has been able to offset most of these impacts through a series of price increases, cost saving initiatives and tax relief relating to the investments made by the company in the last two years. Net profit for the period shows a marginal improvement.

The company made a significant mark in history in September this year, by announcing its highest ever procurement of local dairy milk of over five million litres and confirming a contribution of LKR 2.6 billion to the rural economy for the full year.

Commenting on the results Managing Director of Nestlé Lanka PLC, Alois Hofbauer stated, "2012 continues on as a challenging year for our organisation. However, we will keep our targets in sight and strive to maintain the momentum for the remainder of the year. Despite the difficult conditions we currently operate in, Nestlé Lanka continues to uphold its commitment towards the development of the country’s rural economy. We’re extremely proud to have achieved our highest ever intake of fresh milk in September this year, enabling us to further elevate the livelihoods of over 18,000 dairy farmers in the island. We will remain true to our commitment of Creating Shared Value for all our stakeholders."

Continuing its onward journey in innovation, Nestlé Lanka launched its latest addition to its beverage portfolio, Nescafé Ice Coffee ready-to-drink, a chilled variant to the much loved hot beverage, Nescafé. Further, the company also launched its own corporate website, with the aim of providing consumers with an easy-to-access platform to engage with the products and offerings at their convenience. The success of the Nestlé Lanka website was proven with its recent win of a Bronze award for the Best Corporate Website.

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