Nestlé Lanka’s grows in first 9 months of 2016

Thursday, 10 November 2016 00:32 - - {{hitsCtrl.values.hits}}

Nestlé Lanka PLC has recorded a revenue of Rs. 27.8 billion for the first nine months of the year, posting a growth of 6.1% and net profit of Rs. 3.5 billion.

Nestlé Lanka’s Managing Director Shivani Hegde stated: “The steady performance of our company is a result of the trust consumers place in our products, and the skills and commitment of our people. We have once again reaffirmed our position as a leading and respected company, committed to enhancing the quality of life of the people of Sri Lanka, through our strong brands and rural development initiatives.”

The company faced stiff cost challenges and volatile market conditions, the impact of which was minimised through cost optimisation measures and consumer led initiatives providing more value.

Leveraging the Nestlé group’s strong R&D capability and Nestle Lanka’s expertise in understanding local consumer preferences, the company launched Nescafé 3 in 1 coffee mix, offering coffee lovers a product perfected to give the right taste and aroma.

Sri Lanka’s trusted household favourite Maggi noodles unveiled its latest innovation, Maggi Daiya chicken flavoured noodles – a spicier and delicious variant. The product is fortified with calcium, providing one-third of the recommended dietary intake for this micronutrient, helping address calcium deficiency prevailing in Sri Lanka.

The company continued to invest in Sri Lanka and recently invested around Rs. 500 million in a new state-of-the-art milk processing and packing facility at its factory in Pannala, demonstrating its commitment towards enhancing local fresh milk usage. The company also stepped up its programs on local manpower development.

Nestlé Lanka was ranked the number one Food & Beverage Company in Sri Lanka in LMD’s ‘Most Respected Entities’ for 2016. The company was recognised at the Presidential Export Awards as the ‘Best Multinational Company engaged in Exports’ for export of Nestlé’s coconut milk powder, which is available in over 50 countries across the world. The company was also awarded the 2016 Swarnadeepa Golden Award for contributing to Sri Lanka’s dairy sector.