To Press Releases listPetaling Jaya,Apr 23, 2019
- Turnover for the quarter grew by 1.6% to RM1.45 billion; whilst adjusted Turnover factoring in the divestment of the Chilled Dairy business on 1 January 2019 registered a robust growth of 3.2%.
- Improved Turnover driven by robust domestic sales which grew by 4.9% during the quarter.
- Profit Before Tax up by 6.1% to RM313 million, while Profit After Tax increased to RM235 million.
Nestlé (Malaysia) Berhad started off the financial year on a high note, maintaining its strong momentum with improved top and bottom line results for its first quarter ended 31 March 2019.
Review of Performance (Quarter 1, 2019 vs Quarter 1, 2018)
Turnover for the quarter grew to RM1.45 billion, a 1.6% increase. This represents a growth increase of 3.2% year-on-year, considering the divestment of the Chilled Dairy business on 1 January 2019.
According to Mr Juan Aranols, Chief Executive Officer of Nestlé (Malaysia) Berhad, “We are pleased to share our strong start to the year, with our growth on a comparable basis outpacing market performance. Turnover was driven by robust domestic sales of 4.9% for the quarter, fuelled by strong sales momentum during the Chinese New Year festive period.”
“We continued to create new consumption opportunities and accelerated our product innovation drive in the first quarter. New product innovations in Q1 include MAGGI Pedas Giler 2X Ayam Bakar, MILO with Whole Grain Cereal, as well as NESTUM Brown Rice. Looking ahead, we remain focused on leveraging new opportunities for our products, delivering a steady stream of innovations and constantly driving efficiencies to accelerate our growth.”
The Group’s Operating Profit increased by 6% from RM303 million to RM322 million in the first quarter. This was achieved on the back of lower operating expenses, mainly driven by decreased spending due to phasing of marketing and promotional spends, still favourable commodity prices, as well as efficiency increases throughout the supply chain. As a result, Profit Before Tax jumped 6.1% to RM313 million compared with RM295 million in the same quarter last year. Profit After Tax also improved to RM235 million from RM231 million, demonstrating the Group’s strong bottom line performance, even compared against the solid results in the first quarter of 2018.
Mr Aranols added, “We are encouraged by this solid start to the year. Although we still see some pressures on commodities and fluctuating consumer sentiment, we are optimistic that we will be able to sustain this momentum in the year ahead, given the robust plans we have in place to deliver sustainable and profitable growth.”
About Nestlé Malaysia
Nestlé is the world’s largest food and beverage manufacturer. Headquartered in Switzerland, Nestlé is present in 189 countries around the world, and our 328,000 employees are committed to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future. Our performance is driven by our Nutrition, Health and Wellness strategy. Since 1912, we have been nourishing Malaysians through our quality brands and products, whilst maintaining our Halal excellence and integrity. This is in line with our promise of delivering GOOD FOOD, GOOD LIFE to all. To learn more about how we have been nourishing Malaysians for over a century, do visit www.nestle.com.my or our Facebook page at http://www.facebook.com/NestleMalaysia
For more information, please contact:
Nestlé (Malaysia) Berhad
Tel: (+603) 7965 6650
Kanjana Ilango or Yasmin Kadir
Tel: (+603) 7958 8348
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