Nestle’s 1Q net profit rises to RM231 million

KUALA LUMPUR: Nestle (M) Bhd’s net profit for the first quarter ended March 31, 2018, increased slightly to RM231.21 million from RM230.687 million recorded in the same period last year.

In a statement yesterday, Nestle said revenue rose by 4.2 per cent to RM1.42 billion compared with the previous year corresponding quarter’s RM1.37 billion driven by strong domestic and export sales.

Chief executive officer, Alois Hofbauer, said the company’s excellent pace was largely due to its ongoing FIT strategy which is underpinned by the three pillars – ‘Fuel to Grow’, ‘Innovate to Grow’ and ‘Transform to Grow’.

“This highly-effective FIT strategy contributed to the company’s sustainable growth, allowing us to improve efficiencies and strengthen productivity,” he said.

He said the positive results were also bolstered by strategic marketing and promotional activities during the Chinese New Year period in the quarter under review.

On prospects, he said, Nestle aimed to continue offering Malaysians with healthier and tastier options, coupled with various initiatives and activities to encourage more active lifestyles.

“While the year ahead is expected to remain challenging, we are confident that our long-term FIT strategy, solid brand portfolio, highly-talented people and continuous focus on innovation will continue to contribute to our Company’s sustainable and profitable growth,” he added. — Bernama