Nestle Lanka profits up by 97.92%

sashimaal · 1 Nestle Lanka profits up by 97.92% Wed May 15, 2013 11:38 pm

sashimaal

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http://www.cse.lk/cmt/upload_report_file/487_1368589143350.pdf

sriranga · 2 Sri Lanka Nestle unit profits up 98-pct Thu May 16, 2013 10:26 am

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May 16, 2013 (LBO) - Profits at Nestlé Lanka Plc, a unit of a Swiss based food group rose 98 percent to 914 million rupees, helped by gross profits margins and the absence of large forex losses, interim accounts show.

Earnings per share for the quarter were 17.01 rupees. The stock closed at 1,887.50 up 33.30 on Wednesday.
Revenues rose 6.7 percent to 7.7 billion rupees, cost of sales rose at a slower 3.3 percent to 5.0 billion rupees, allowing gross profits to expand 13.6 percent to 5.0 billion rupees.

The company said the exchange rate was stronger and raw material costs were lower.

Other operating expenses, made up mostly of forex losses last year, fell to 4.8 million rupees from 239 million rupees last year. In the first half of 2012 the rupees depreciated sharply, as the country emerged from a balance of payments crisis.

"2013 market conditions continue to be challenging but our people have persevered in delivering consistent, good results," Nestlé Lanka Ganesan Ampalavanar, managing director said in a statement.

"Despite the many challenges, we remain cautiously optimistic."

The company had launched 'Shakthigen' a milk based glucose drink, and 'Nangrow' a premium milk for toddlers.
http://www.lankabusinessonline.com/news/sri-lanka-nestle-unit-profits-up-98-pct/808444652