Karachi February 18 2022: Nestle Pakistan shared its financial results through Pakistan Stock Exchange. Companies sales for the CY21 continues to show signs of recovery, clocking a growth of 12 percent compared to the same period last year due to volume increase resulting from gradual relaxation of the COVID-19 related restrictions and overall improvement in economic activities coupled with pricing management.
The company’s gross profit increased by 16 percent to PKR 40,492 million during CY21 compared to PKR 34,765 million during CY20
The Company also made further progress in the recovery of operating profit, which increased due to favorable product mix and better absorption of overheads.
In addition, lower financing costs for the period has contributed towards improvement in net profit.
Finance cost of the company down by 34 percent to PKR 1,840 million.
Companies profit after tax has reached at PKR 12,768 million up by 44 percent during CY21.
Nestlé Pakistan Limited is a public limited company incorporated in Pakistan – under the repealed Companies Ordinance 1984 (now Companies Act 2017). The Company is a subsidiary of Nestlé S.A, a Swiss based public limited company. The Company is principally engaged in manufacturing, processing and sale of dairy, nutrition, beverages and food products including imported products.
