Nestle Malaysia posts lower 1H sales on cautious consumer spending

KUALA LUMPUR: Nestle (Malaysia) Bhd experienced a correction in its sales in the first half of 2024 (1HFY24) as subdued consumer sentiment and cautious spending during the festive period took it lower from record-high sales achieved in the first half of 2023 (1HFY23).

In a results announcement, the consumer group said sales in 1HFY24 fell 8% to RM3.3bil, on a par with sales two years earlier in the first half of 2022 (1HFY22).