Nestlé Lanka December net up 4.2-pct, malted drinks market share grows
Feb 24, 2016 16:09 PM GMT+0530 | 0 Comment(s)
Nestlé Lanka's Kurunegala factory
ECONOMYNEXT - Nestlé Lanka, the Sri Lankan unit of the Swiss food multinational, said December 2015 quarter net profit rose 4.2 percent to 641 million rupees from a year ago.
Sales grew 10.1 percent to 8.8 billion rupees in the quarter, according to interim accounts filed with the stock exchange.
The firm reported earnings per share of 11.92 rupees for the quarter.
For the full-year ending 31 December 2015, EPS was 76.77 rupees with net profit up 8.9 percent to 4.1 billion rupees.
The annual profit growth was “supported by strategic portfolio optimisation and focus on driving efficiencies across the value chain,” a company statement said.
Nestlé Lanka’s annual sales grew nine percent to 35.9 billion rupees, fuelled by its Nestomalt, Milo and Maggi brands, it said.
Nestomalt was a “key growth driver” for the company with the brand increasing its market share, especially among rural consumers, Nestlé Lanka said.
“These are strong results for what has been a challenging year,” Nestlé Lanka chief executive Shivani Hegde said.