BUSINESS

Nestlé comes out of a tough year with 2% growth in sales

LAHORE – Nestlé Pakistan posted a yearly sales revenue of PKR 124.6 billion for 2018, an increase of about 2% compared to previous year despite increasingly difficult economic conditions. Export sales during the same period stood at PKR 2.3 billion. The annual results were announced following a Board of Directors’ meeting at the company’s head office.

Operating profit for the year is PKR 20.3 billion vs PKR 23.6 billion in 2017. During the year 2018, higher commodity and fuel prices coupled with devaluation of PKR impacted the operating profit margin of the Company. However, the focus of the company remained on cost efficiencies to offset the increasing commodity prices and forex impact.

The major new product launches during 2018 included: NESTLÉ FRUITA VITALS PET, NESTLÉ MILKPAK 500ml, NESTLÉ NIDO Organic, NAN 2 BIB, NANGROW 3 BIB, NAN 1 with HMO, NESTLÉ CERELAC Savoury Spinach & Pumpkin, NESTLÉ LACTOGEN 1.2 Kg (new SKU), NAN HA and MILO 125ml.