Comments /1091 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.
26 July 2016
I still remember travelling in an armed car on route to Kilinochchi and then taking an Air Force chopper that hugged a railway track to avoid sniper attacks way back in 2007-2009. At that time Kilinochchi was making headline news daily, given that...
25 July 2016
Being the hotbed of trouble in the correct direction is a must Sri Lanka’s state-owned universities have always been hotbeds of trouble. Troubles are good for universities if they are in the right direction. U...
25 July 2016
Freight, new price ruling The Freight Transport Association (FTA) says the European Commission’s adoption of new pricing rules for shipping lines will modernise the industry and bring it into the 21st century. As reported in Lloyd&rsq...
23 July 2016
A classic example of our cultural predictability is explicit in the saga behind the naming of Sri Lanka’s only international airport It will not be wrong to say that we are a country in a permanent state of crisis, but...
Congestion pricing, not high car duties, the solution for high traffic in Colombo
Chandra Jayaratne’s open letter to Governor Dr. Indrajit Coomaraswamy: A response
The National Audit Bill: Should they hold it up?
Heavy rainfall and heat swamp Sri Lanka’s anti-dengue drive