KUALA LUMPUR, Nov 2 — Nestle (Malaysia) Bhd posted a higher net profit of RM148.02 million in the third quarter ended Sept 30, 2021 (Q3 2021) from RM128.39 million in a year earlier, supported by resilient demand in core food and beverages (F&B) business which recorded a 5.5 per cent growth and exports.
Revenue edged up by 3.6 per cent to RM1.44 billion compared with RM1.39 billion in the same quarter previously, on the back of solid sales growth in both domestic and export markets, which grew by 3.4 per cent and 4.5 per cent respectively.
The company has declared an interim dividend of 70 sen per share, amounting to RM164.150 million, in respect of the financial year ending Dec 31, 2021.
Chief executive officer Juan Aranols said the company had delivered a strong quarter in spite of multiple operational constraints.
“We have maintained our operations safely and continued to ensure stable supply to fulfil the solid demand for our brands, while ramping up our product innovation and accelerating our environmental actions,” he said in a statement today.
For the first nine months ended Sept 30, 2021, Nestle Malaysia recorded a 5.6 per cent rise in revenue to RM4.27 billion from RM4.04 billion in the same period last year, mainly driven by domestic sales which grew by 6.3 per cent, as the retail F&B business recorded a 6.2 per cent increase.
Aranols said the group earnings and sales growth reflected the resiliency of its business and operations.
“Our key priorities have remained to ensure the safety of all employees and business partners as well as ensuring continuity in supply to our customers. On top of this, we have remained focused on delivering great-tasting, high quality and nutritious products that continue,” he said.
Moving forward, he said the group remained positive on the prospects ahead for Malaysia and was confident the group would maintain its positive momentum to deliver another year of solid results in 2021.
“Looking ahead, a key challenge in the fourth quarter of the year will be the rising food commodity costs. We expect the impact to be more pronounced in the coming months and especially in 2022,” he added. — Bernamahttps://e3c8e750e15e435139329fe0dfceb6f8.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
Source: Malay Mail
