Karachi April 22 2022: Nestlé Pakistan Limited (NESTLE) sales for the three-month period ending March 31, 2022, stands at PKR 37.8 billion reflecting a growth of 16.8% compared to the same period of last year due to further relaxation of COVID-19 related restrictions and normalization of economic activities coupled with portfolio and pricing management.
Operating profit margin for the period has improved to 19.8% when compared with the same period last year of 15.9% due to favorable product mix, tighter control on fixed costs and better absorption of overheads.
Company reported profitability of PKR 4.4 billion for the three-month period ending March 31, 2022, which is 38.7% higher when compared with the last year.
“While the economy is showing signs of recovery and the risks from the pandemic is gradually waning, a continuous rise in commodity and energy prices have resulted in a significant increase in input costs. The situation has been further aggravated by the recent devaluation of the currency.” Says Mr. Syed Yawar Ali Nestle Pakistan Chairman
Chief Executive Officer Mr. Samer Chedid says, “The management of the company is fully cognizant of the situation and taking all necessary measures to manage these challenges and will continue to delight consumers with quality products and remains cautiously optimistic about the future.”
Nestlé Pakistan Limited is a public limited company incorporated in Pakistan – under the repealed Companies Ordinance 1984 (now Companies Act 2017).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.