Nestle Q4 profit doubles to RM133.5m
PETALING JAYA: Nestle (Malaysia) Bhd’s net profit doubled to RM133.54 million in the fourth quarter ended December 31 last year, from RM66.94 million in the corresponding period in 2016.
Its quarterly revenue, meanwhile, rose 2.4 per cent year-onyear to RM1.28 billion, from RM1.25 billion in 2016. Full-year turnover improved to RM5.26 billion, a 3.9 per cent increase from the year before.
This solid growth was driven by strong domestic and export performance, which grew at 4.1 per cent and three per cent, respectively.
Nestle’s chief executive officer Alois Hofbauer said the group’s main focus had been on producing high-quality products that Malaysians valued and encouraging healthier lifestyles.
“The group’s solid performance was achieved on the back of strategic investments in campaigns, including the Kuala Lumpur SEA Games 2017 and Milo Breakfast Day,” he said.
Hofbauer said Nestle’s continuous focus on innovation and renovation had also been key to the positive results, with new and exciting products contributing to turnover growth.
“In the year under review, we successfully launched new products, including Milo Nutri-up, a high-calcium product that provides a good source of protein, as well as Nestum Cereal with Milk in a bottle, which contains multigrains,” he added.
Driven by prudent cost management, effective marketing and trade investments, the group turned in a full-year profit before tax of RM814 million and profit after tax of RM646 million, an increase of 6.2 per cent and 1.4 per cent, respectively.
This had enabled it to compensate for a one-time favourable tax-effect in 2016.
The company’s board of directors proposed a final dividend of RM1.35 per share for the financial year ended December 31 last year. Including the interim dividends paid, this would bring the total dividend for the year to RM2.75 per share.