Nestlé Pakistan records 4.24% revenue growth in H1 2018

BUSINESS

LAHORE: Pakistan Nestlé Pakistan recorded a revenue growth of 4.2% for the six months ended on June 30, 2018 with an overall increase in its revenue by PKR 2.6 billion. The total revenue for the company stood at PKR 64.6 billion.

The results were announced upon the conclusion of the meeting of Nestlé Pakistan’s Board of Directors on August 16, 2018.

The company reported profit after taxation of PKR 6.3 billion for the six months ended on June 30, 2018 as compared to PKR 7.9 billion in the corresponding period last year.

The company faced pressures on its earnings owing to challenging economic conditions with depreciation of PKR, rising fuel prices and input costs. Resultantly its earnings per share declined to PKR 138.03 vs 174.95 in the corresponding period last year.

The company remains optimistic about growth and profit development despite ongoing macroeconomic challenges.