August 24, 2021

Revenue Rises 27%, Nestle Remains Committed To Driving A Positive Trajectory

 Nestle (Malaysia) Bhd saw an increase in net profit in the second quarter ended June 30, 2021 by 27.5% to RM134.53 million from RM105.53 last year.

The food and beverage (F&B) producer said the performance was supported by a surge in revenue but it was relatively modest due to higher commodity prices.

In addition, the increase in marketing expenditure compared to the period of the Movement Control Order in 2020 had little effect on the performance.

The group said its quarterly revenue increased to RM1.38 billion from RM1.22 billion in the previous year driven by strong domestic sales growth of 15.8%.

However, it has pushed its earnings per share to 57.37 sen from 45 sen.

Looking at the latest momentum, Nestle remains committed to driving a positive trajectory in the second half of this year by striving to deliver sustainable growth in 2021 and at the same time support Malaysia moving towards recovery.

Meanwhile, Nestle has also launched a new regional research and development (R&D) accelerator initiative in Singapore.

The launch aims to provide a world -class platform for companies to develop and test new concepts within six months.

The launch was also in conjunction with the 40th anniversary of Nestle's R&D center in Singapore.