Nestlé Sri Lanka unit March net up 10-pct

ECONOMYNEXT – The Sri Lankan unit of food multinational Nestlé said March 2016 quarter net profit rose 10.1 percent to almost Rs1.3 billion from a year ago.

Sales rose 9.1 percent to Rs9.8 billion, a stock exchange filing said.

Earnings per share for the quarter were Rs23.74, compared with Rs21.56 the year before.

A company statement said its ‘Out-of-Home’ food and beverage solutions arm, Nestlé Professional, launched a proprietary cool beverage dispenser made with advanced smart technology, NestléCoolpro.

The machine provides a beverage, Nestlé Sjora, with a flavour fusion combining mango, peach and milk.

Nestlé also has opened a new milk chilling centre in the North-Eastern town of Vaddakkachchi in line with its plans to develop its milk procurement network in the north.
(Colombo/May 06 2016)