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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka Nestle unit net up 56-pct

Sri Lanka Nestle unit net up 56-pct

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sriranga

sriranga
Co-Admin
Sri Lanka’s leading nutrition, health and wellness company Nestlé Lanka ended 2012 with a revenue of Rs. 28.6 billion, up by 11.7% over the previous year. This performance was amidst impacts of volatility in the currency and tough market conditions in 2012. In the fourth quarter, revenue was Rs. 7.2 billion.

As per provisional results, net profit for the full year at Rs. 2.9 billion was in line with revenue growth and also benefitted from tax concessions on investments in fixed assets.

“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 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 of Nestlé Lanka.

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 ‘Good Food, Good Life’ 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 re-launch 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.
http://www.ft.lk/2013/03/02/nestle-lanka-ups-revenue-by-12-to-rs-28-6-b-in-2012/

http://sharemarket-srilanka.blogspot.co.uk/

2Sri Lanka Nestle unit net up 56-pct Empty Sri Lanka Nestle unit net up 56-pct Sat Mar 02, 2013 4:04 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Mar 02, 2013 (LBO) - Nestle Lanka Plc, a unit of a Swiss-based food group said profits rose 56 percent to 949 million rupees in the December 2012 quarter from a year earlier, and payments to local farmers topped 4.0 billion rupees.

The firm reported earnings of 17.68 rupees per share for the quarter. Nestle reported earnings of 55.73 rupees per share for the year to December 2012 on profits of 2.99 billion rupees which rose 13.6 percent.
The firm was hit by a 283 million rupee exchange loss on a forex denominated loan as the rupee fell during the year. But in the December quarter it had a forex gain as the rupee appreciated, reporting no-operating income of 25 million rupees.

"Volatile market conditions, currency depreciation and a significant increase in fuel, energy and input costs posed massive challenges for Nestlé Lanka in 2012," Ganesan Ampalavanar, managing director for Nestlé Lanka Plc said in a statement.

"However we’re pleased that we were able to deliver a double digit growth under difficult circumstances. Despite the many challenges we foresee, we remain cautiously optimistic for 2013."

The firm said in had invested over 3.0 billion rupees in its factory complex in Kurunegala. The firm said fresh milk collections grew 20 percent from a year earlier, making it the largest collector of milk.

Total payments to dairy and coconut farmers topped 4.0 billion rupees.
http://lbo.lk/fullstory.php?nid=579869846

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