Lahore February 13 2025: Nestlé Pakistan’s profit dropped 10.2 percent during the year 2024 to PKR 14.8 billion compared to PKR 16.5 billion last year, according to company filing to the exchange.
Company sales for the year ended December 30, 2024, stand at PKR 193.2 billion, reflecting a decline in growth by 3.6 percent compared to the same period last year.
“This was primarily influenced by the implementation of taxes in the Finance Act, which were passed on to consumers leading to price hikes and subsequently reduced demand” states management earlier.
“Additionally, challenges such as rising commodity and energy prices, as well as increased investment behind the brands, contributed to a decrease in operating profit” adds the statement issued earlier.
