Nestle net profit eases to RM156.89 million in Q2

by BERNAMA/ pic by MUHD AMIN NAHARUL

Nestle (Malaysia) Bhd’s net profit eased to RM156.89 million in the second quarter ended June 30, 2019 from RM166.16 million in the same period a year earlier. 

Revenue for the quarter rose to RM1.34 billion versus RM1.31 billion year-on-year on the back of a 6.8 per cent growth of domestic sales during the period compared with the same period last year.

Nestle said the strong domestic sales were achieved through focused sales execution, adequate marketing support and efforts to capture the opportunities offered by the festive season.

“We have also maintained our innovation focus and the new products launched in the second quarter such as Nescafe Gold Jar relaunch to provide further platforms and confidence in our ability to generate sustainable growth,” it said in a filing with Bursa Malaysia today.

Moving forward, Nestle remained confident in its full year performance against a backdrop of global uncertainties and volatility as its fundamentals remain strong and continued focus on consumer driven commercial activities to maintain its growth momentum.

The company said it would continue driving efficiencies and savings to invest behind its brands and protect its margins to counter rising commodity prices and to manage input costs.

“We have an exciting stream of new launches planned for the second half of 2019 and our teams are committed to capture all the opportunities available to grow the business.

“The recent introduction of the “Starbucks At Home” range in Malaysia, building on Nestle’s Global Coffee Alliance with Starbucks, is just the most recent example of our commitment to bring to Malaysian consumers exciting experiences and to capture all opportunities for growth,” it added.