Nestle (M) Bhd achieved a pre-tax profit of RM288.647 million on the back of a turnover of RM1.693 billion for the first quarter ended 31 March 2022 from a pre-tax profit of RM220.377 million on the back of a turnover of RM1.45 billion previously.
In a Bursa filing, it said that for the first quarter ended 31 March 2022, the total turnover for the Group increased by 16.9% from RM1.45 billion to RM1.69 billion driven by both higher Domestic and Export sales, growing 14.9% and 25.3% respectively.
It said that strong performance in both the core Food and Beverage (F&B) business and the Out-of-Home (OOH) business under Nestlé Professional has benefitted from the increased mobility and re-opening of Hotel, Restaurant & Café (HORECA) channels post lockdown.
Nestle said that it was confident in sustaining growth momentum across the year, even if we see growth levelling down from current high levels in the coming quarters. “The global environment remains very challenging, with widespread inflation gaining traction across the world and also in Asia, aggravated by the war in Ukraine impacting further prices and availability of key food commodities such as wheat, barley, and sunflower oils.
Overall, 2022 is shaping as a year of solid growth in the top line and some pressure on the bottom line as we do our best to balance the tensions on our cost value chain with internal efficiencies and moderate price increases.
It said that despitethe foreseeable hurdles, we aim to continue leveraging on all possible opportunities to drive another year of solid and resilient results, whilst making meaningful progress in our ESG agenda to contribute to Malaysia’s sustainable progress.
