Nestle’s 1Q net profit rises 17% to RM205.18mil

KUALA LUMPUR: Nestle (M) Bhd’s net profit rose 17.14% to RM205.18mil in the first quarter ended March 31, compared with RM175.16mil in the same period a year ago.

The multinational food and drink group noted that it recorded higher earnings despite the impact of increased commodity prices, as well as the impact of the Cukai Makmur (Prosperity Tax) on net profit.