Nestle reaffirms its 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, Mr. Antonio Helio Waszyk.

Key highlights of the AGM were: The official introduction of Mr. Alois Hofbauer, who joined the Company mid last year, to shareholders as the Managing Director of the Company.

The re-election of Mr. Pierre Schaufelberger (Vice President – Nestlé Zone AOA) and Mr. Mahen Dayananda (Chairperson of several organizations, including the Monetary Policy Consultative Committee of the Central Bank of Sri Lanka) as Directors of the Board.

Approval of a final dividend payout of LKR 22.50, the highest payout by the Company so far, bringing the full year dividend payout to LKR 34.50 per share.  This dividend will be payable to shareholders on 03 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 LKR 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 Mr. Waszyk. “We were the first to pioneer the collection of fresh milk in the North and East and today 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.”

Mr. 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 ended.

Photo caption: Mr. Alois Hofbauer (left) Managing Director of Nestlé Lanka PLC and Mr. Antonio Helio Waszyk, Chairman of Nestlé Lanka PLC and Market Head of Nestlé South Asia, at the 30th Annual General Meeting of Nestlé Lanka PLC.