Comments /1077 Views / Wednesday, 29 February 2012 00:03
Sri Lanka’s leading nutrition, health and wellness company, Nestlé Lanka PLC, sustained the positive performance trends of previous quarters to Q4 and posted a revenue of Rs. 6.2 billion and a profit of Rs. 605 million for the last quarter of the year.
Despite the volatility and sharp upward trend in the price of commodities over 2011, the company’s strong performance in all four quarters enabled them to deliver a strong revenue of Rs. 25.8 billion for the year ending 31 December 2011 as per provisional results.
“I am pleased that we have been able to deliver strong top and bottom line growth in a very challenging year for us. Our solid financial achievements are a testament to the resilience of our Nestlé business model and the determination and capabilities of our team. Our commitment to ‘Create Shared Value’ for Sri Lanka has never been stronger. Our strong financial results together with our crowning as Sri Lanka’s ‘Best Corporate Citizen 2011’ proves that it is possible to ‘do well by doing good,’” Nestle Lanka Managing Director Alois Hofbauer said.
Maintaining ongoing investments in its state-of-the-art manufacturing facility in Kurunegala as part of its Rs. 10 billion investment commitment to the country; 2011 saw Nestlé invest over Rs. 2 billion in capacity expansion for its core business.
The company also introduced multiple new product innovations in 2011 like NESLAC Excella 1+ – a premium growing up milk; Nestlé BABY&Me – a unique nutritional supplement for pregnant and breastfeeding mothers; and MAGGI Ricey noodles – a new 2-minute noodles product made from the goodness of premium, local rice.
Nestlé Lanka saw further successes on the corporate front. Its win as Sri Lanka’s ‘Best Corporate Citizen 2011’ crowned a year that held many accolades for the company, including ‘The National Green Award’ by the Central Environmental Authority of Sri Lanka, ‘The Achievers Award’ by the Ceylon National Chamber of Industries, and ‘Most Outstanding Exporter Award’ by the National Chamber of Exports. The company was also one of the best performing stocks on the Colombo Stock Exchange (CSE) in 2011.
31 August 2015
The proliferation of much-hated bribery and corruption directly relates to the presence of a big government Governance and institutional framework go hand in hand A new Government promising the delivery of good governance t...
31 August 2015
According to our law the number of Ministers should be limited to 30; except that in the case of a National Government it could go up to 45 The delay in the appointment of the Cabinet of Ministers seems to indicate tha...
31 August 2015
Critics of free trade argue that trade-driven growth benefits only the rich and not the poor. In India, however, after the economic and education reforms, nearly 200 million people have come out of poverty. In China, which grew faster, it is...
29 August 2015
Mahinda Rajapaksa The Mahinda Movement hoped for, believed in and fought determinedly for a victory at the 17 August election, but beneath the rousing nationalist romanticism there was always a tougher-minded realisation that what...