Nestlé Lanka Posts LKR 12.7 Billion Revenue during the First Half of the Year
August 5, 2011 10:47 pm
Strong growth and healthy profits sustained into 2011
Financial Highlights:
Revenue growth of over 22% in the first six months of 2011, with a Revenue of LKR 12.7 billion
Net Profit year-on-year growth of 40%
Basic Earnings Per Share of LKR 23.45
10 billion investment plan on track
New innovations and renovations in the pipeline
Nestlé Lanka PLC, the leading Nutrition, Health and Wellness Company in Sri Lanka and a subsidiary of the world’s largest food and beverage company, recorded a revenue of LKR 12.74 billion for the six months ending June 30, 2011, marking a remarkable year-on-year growth of 22.5%.
Net profit surged by an impressive year-on-year 40.4% growth to LKR 1.26 billion, partially benefitted by the lower rate of tax.
With a basic earnings per share of LKR 23.45 – up from LKR 16.71 over the same period in 2010 - the Swiss based company has once again ‘Created Shared Value’ for its stakeholders; a Nestlé philosophy that claims that the Company conducts business in a way where value can best be created both for society and shareholders.
The local Food and Beverage giant claims increased revenue has been fuelled by carefully tailored consumer-centric marketing activities, increased distribution across the Island, adoption of effective sales strategies, continuous Innovation and Renovation product initiatives and ongoing investments in the company’s state-of-the-art local manufacturing facility that has lead to greater efficiency.
Said Mr. Alois Hofbauer, Managing Director, Nestlé Lanka PLC, “We closed 2010 on one of the highest notes ever in recent years. We are now continuing the momentum with renewed determination. Our results for the six months ending June 30 this year illustrate positive revenue performance, strong profits and robust growth trajectories. This is a reflection on our strength as a team, our commitment to successfully overcoming adversity and a clear reflection of our strong upward momentum in the country.”
2011 has seen the company continue to deliver on its promise of delivering ‘Good Food, Good Life’ to all its consumers.
