From left: Nestle Malaysia CEO Alois Hofbauer, chairman Tan Sri Syed Anwar Jamalullail and executive director, finance & control Martin Peter Kr
KUALA LUMPUR: Nestle Malaysia Bhd
posted a set of firmer results for the first quarter ended March 31, 2018 as strong performance was driven by higher domestic sales and export sales.
It reported on Tuesday the positive results were also bolstered by strategic marketing and promotional activities during the Chinese New Year period in the quarter under review.
“The strong performance was driven by higher domestic sales and export sales, which grew by 4.4% and 3.4% respectively.
“The improved turnover also compensated for the less favourable commodity prices and higher marketing investments during the Chinese New Year period,” it said.
Nestle said its operating profit increased by 1.3% to RM303mil and profit before tax also rose 1.3% to RM295mil.
Turnover improved by 4.2% to RM1.43bil. Earnings rose to RM231.21mil. Earnings per share rose to 98.60 sen from 98.37 sen.
Nestlé Malaysia chief executive officer Alois Hofbauer said the company continued to accelerate its growth during the quarter under review.
“Our excellent pace was largely due to our ongoing FIT strategy, which is underpinned by the three pillars of ‘Fuel to Grow’, ‘Innovate to Grow’ and ‘Transform to Grow’. This highly-effective FIT strategy contributed to the group’s sustainable growth, allowing us to improve efficiencies and strengthen productivity.”
“Our solid investments in marketing and promotional initiatives led to increased sales. In tandem with this, innovation remains one of the group’s key growth drivers and we are delighted to have excited Malaysians with even more innovative and great-tasting products during the quarter under review,” he said.
Hofbauer said beyond delivering better financial results, Nestle was firmly committed to its purpose of enhancing quality of life and contributing to a healthier future for all Malaysians.
“While the year ahead is expected to remain challenging, we are confident that our long-term FIT strategy, solid brand portfolio, highly-talented people and continuous focus on innovation will continue to contribute to our company’s sustainable and profitable growth,” he added.
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