KUALA LUMPUR: Nestle (Malaysia) Bhd’s net profit in the second quarter ended June 30, 2023 (2Q FY2023) rose to RM180.92 million from RM169.65 million in the same period last year on solid revenue growth, as well as the continuous focus on internal efficiencies, amidst sustained pressure on commodity prices.
“The profit improvement was compatible with higher marketing investment that helped to further fuel accelerated growth and gain market share in several segments,” it said in a filing with Bursa Malaysia today.
Nestle said its revenue grew 6.8 per cent to RM1.75 billion from RM1.64 billion previously, primarily attributable to growth in domestic sales, which saw double-digit growth of 11.6 per cent.
“This was slightly offset by lower export sales on the back of a strong baseline in the previous year’s corresponding quarter,” it said.
For the first half ended June 30, 2023, the group registered a net profit of RM378.06 million, up from RM374.83 million in the same period last year, while turnover improved to RM3.59 billion from RM3.33 billion previously.
In a separate filing, Nestle declared an interim dividend of 70 sen per share, payable on Oct 5, 2023.
It said the total dividends declared amounted to RM164.15 million for the financial year ending Dec 31, 2023.
In a press statement, chief executive officer Juan Aranols said the company remained confident in delivering another year of solid sales growth, improved cash flow performance, resilient profitability, and shareholder return.
He said this was despite multiple factors of uncertainty remaining, especially those derived from a weakened ringgit and the ongoing volatility in commodity and energy markets. – BERNAMA
