4.1 per cent YoY revenue growth for Nestle Lanka According to Nestle Lanka PLC's Managing Director, Alois Hofbauer; "Despite the difficult conditions we currently operate in, Nestlé Lanka continues to uphold its commitment towards the development of the c

The Sri Lankan unit of global food conglomerate Nestle has posted a revenue growth of 10.2 per cent, to Rs. 21.6 billion, for the nine months to end-September 2012, according to a media statement by the company. Further, it also stated that this was "amidst a challenging market environment".

At the same time, it was also noted that the company's third quarter 2012 performance showed a 4.1 per cent year-on-year revenue growth.

Additionally, the company also noted; "The current volatile market conditions, with the currency depreciation and a significant increase in fuel, energy and input costs posed massive challenges for Nestlé Lanka this year. The company has been able to offset most of these impacts through a series of price increases, cost saving initiatives and tax relief relating to the investments made by the company in the last two years. Net profit for the period shows a marginal improvement".

According to Nestle Lanka PLC's Managing Director, Alois Hofbauer; "Despite the difficult conditions we currently operate in, Nestlé Lanka continues to uphold its commitment towards the development of the country’s rural economy. We’re extremely proud to have achieved our highest ever intake of fresh milk in September this year, enabling us to further elevate the livelihoods of over 18,000 dairy farmers in the island". Nestle's media statement also included a number of highlights from the company's most recent financial year, such as its "highest ever procurement of local dairy milk of over five million litres and confirming a contribution of Rs. 2.6 billion to the rural economy for the full year". It also noted that it had "launched its latest addition to its beverage portfolio, Nescafé Ice Coffee ready-to-drink, a chilled variant to the much loved hot beverage, Nescafé. Further, the company also launched its own corporate website, with the aim of providing consumers with an easy-to-access platform to engage with the products and offerings at their convenience".

(JH)