KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has raised Nestle (Malaysia) Bhd’s earnings estimates for its financial year ending Dec 31, 2023, by seven per cent amid year-end festivities and school holidays.
An expected shift in consumer spending towards dine-in for lower income groups may spur sales growth for stapled food and beverages (F&B) products in the near-term, along with seasonally higher sales volume as year-end festivities and school holidays draw near, it said.
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