Nestle FY18 net profit jumps to RM658.88 mln
KUALA LUMPUR: Nestle (Malaysia) Bhd’s net profit for the financial year ended Dec 31, 2018 (FY18) jumped to RM658.88 million from RM642.55 million the preceding year.
Revenue rose 4.9 per cent to RM5.52 billion from RM5.26 billion previously, supported by strong growth in both the export and domestic businesses, it said in a filing with Bursa Malaysia yesterday.
Chief executive officer Juan Aranols said improved internal efficiencies and favourable prices for key commodities contributed to the group’s strong profitability in FY18.
“During the year, we continued to drive marketing and trade investments to reinforce the competitive position of our products on the shelf and heighten awareness and endorsement of our brands by consumers.
“We also leveraged opportunities offered by the digital and eCommerce landscape, to explore new avenues to deepen engagement with consumers,” he said.
The company proposed a final dividend of RM1.40 per share, and including the interim dividends paid, this will bring total dividends for FY18 to RM2.80 per share.
On prospects, Aranols said the company is confident in its ability to deliver another good year of results for FY19.
“We see strong demand for our brands in Malaysia and we have strong plans in place to continue generating sustainable and profitable growth.
“At the same time, we acknowledge some pressures from higher commodity prices and more volatile demand in our main export markets,” he added.— Bernama