Nes­tle Pak­istan rev­enues rise

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The Swiss food gi­ant saw its rev­enues rise 16% to Rs74 bil­lion com­pared to Rs64 bil­lion in the cor­re­spond­ing pe­riod of last year. STOCK IM­AGE

Nes­tle Pak­istan has boosted its net earn­ings by a stag­ger­ing 43% on a year-on-year ba­sis in the nine months ended Septem­ber 30, 2014, ac­cord­ing to the company’s fi­nan­cial re­sults.

The Pak­istani sub­sidiary of the world’s largest food and con­sumer goods company re­ported a net profit of Rs6.4 bil­lion or Rs141 per share for the Jan­uary-Septem­ber pe­riod of 2014 com­pared to Rs4.4 bil­lion or Rs99 per share dur­ing the cor­re­spond­ing pe­riod of pre­vi­ous year.

The Swiss food gi­ant saw its rev­enues rise 16% to Rs74 bil­lion com­pared to Rs64 bil­lion in the cor­re­spond­ing pe­riod of last year. The company also an­nounced an in­terim cash div­i­dend of Rs50 per share for the quar­ter ended Septem­ber 30, 2014, which was in ad­di­tion to the first cash div­i­dend of Rs30 per share, which was al­ready paid.

Though the ex­pec­ta­tions usu­ally re­mained low for the July-Septem­ber quar­ter, the re­sults still didn’t meet the pro­jec­tions. It was ex­pected that Nes­tle’s earn­ings per share (EPS), which was Rs56 for the April-June quar­ter, would not fall be­low Rs45 in the third quar­ter. How­ever, the company’s EPS for the third quar­ter stood at Rs39 per share, ac­cord­ing to the re­sults.

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