For the second quarter ended 30 June 2023, the Group recorded a turnover of RM1.75 billion, up by 6.8% from RM1.64 billion in the same quarter last year. This was primarily attributable to growth in domestic sales, which saw double-digit growth of 11.6%. This was slightly offset by lower export sales on the back of a strong baseline in the previous year’s corresponding quarter.
Profit Before Tax and Profit After Tax increased to RM239.8 million and RM180.9 million respectively in Q2 2023. This was supported by the solid growth, as well as the continuous focus on internal efficiencies, amidst sustained pressure on commodity prices. The profit improvement was compatible with higher marketing investment that helped to further fuel accelerated growth and gain market share in several segments.
While multiple factors of uncertainty remain, especially those derived from a weakened Ringgit and the ongoing volatility in commodity and energy markets, Nestle said it remains confident in its ability to deliver another year of solid sales growth, improved cash flow performance and resilient profitability and shareholder return.
