Nestlé Lanka reports 7% growth in 1Q 2013 performance
View(s):Nestlé Lanka posted revenues of Rs 7.7 billion for the first quarter of the year, saying the company operated in challenging market conditions.
Net profit was Rs 914 million benefitting from stable raw material costs and favourable currency in the current year, whilst currency depreciation significantly impacted the comparative period, the company said in a statement.
“2013 market conditions continue to be challenging but our people have persevered in delivering consistent, good results. Our product innovations continue to be relevant to local consumer needs. We continue to strive to make a difference to the lives of our all stakeholders, and despite the many challenges, we remain cautiously optimistic.” said Ganesan Ampalavanar, Managing Director of Nestlé Lanka.
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