PETALING JAYA: Nestlé (Malaysia) Bhd continued its robust growth trajectory for the third quarter ended Sept 30, 2023, recording solid top and bottom-...
Nestlé Bhd continued its robust growth trajectory for the third quarter ended Sept 30, 2023, recording solid top and bottom-line results.
Profit before tax and profit after tax both increased to RM200.3 million and RM133.7 million respectively in Q3’23. This was driven by robust domestic sales coupled with the group’s continuous drive to enhance internal efficiencies and cost saving initiatives, as well as a more moderate impact of commodity costs. The Wyeth business, integrated for the first time in this quarter, delivered positive results as per expectations.
He pointed out that they are furthering their efforts to uplift local farming communities by expanding their Farmer Connect programme to Sabah and Sarawak, where they have joined hands with the Malaysian Cocoa Board to promote sustainable cocoa farming and the adoption of Regenerative Agriculture practices, with the ultimate objective of increasing the local cocoa ingredients used for the manufacturing of their products.
For the first nine months ended Sept 30, 2023, the group registered a turnover of RM5.37 billion, marking a 7% increase compared with RM5.02 billion in last year’s corresponding period mainly due to the double-digit growth in domestic sales driven by robust demand. This was slightly tempered by reduced export sales, which had benefited from a robust recovery in 2022 as the global economy reopened after the pandemic.
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