Nestle is among the eight companies which Maybank IB is issuing the call warrants over the shares.
KUALA LUMPUR: Nestle (M) Bhd
's net profit in Q2 rose nearly 3% to RM166.16mil from RM161.44mil in the previous corresponding quarter on the back of 2% higher revenue of RM1.31bil.
"The launch of new products and strong consumer and trade promotions were key contributors to our revenue growth. This was further supported by increased sales in June," said Alois Hofbauer, CEO of Nestle Malaysia.
For the first six months of 2018, Nestle posted 1.3% higher net profit of RM397.38mil compared to RM392.13mil as turnover grew 3.1% on higher domestic sales especially during the festive season, and export business.
Looking ahead, Nestle said its innovations in the first half of the year will set a solid base growth for the remainder of 2018.
These innovations include MAGGI Pedas Giler, the new KIT KAT Green Tea, NESTUM Kurma & Prun and the opening of new NESPRESSO Boutique in the Gardens Mall, Mid Valley City.
Nestle has also started operations in its new National Distribution Centre (NDC), resulting in a shift of sales from June to July owing to the move from the old NDC.
According to the group, the ramp-up of the operations will help it maintain its growth momentum.
"We are confident that the new state-of-the-art distribution centre with its larger capacity will support the expansion of our business and meet growing consumer demand as well as support accelerated growth in the years ahead,” said Hofbauer.
Nestle has declared an interim dividend of 70 sen a share made payable on Sept 27, 2018.
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