Nestle SL’s dairy development work profiled as best practices by UN agency
View(s):Sri Lanka’s leading Nutrition, Health and Wellness company, Nestlé Lanka PLC, grew by 8.2 per cent for the nine months ending 30 September 2013, posting a revenue of Rs. 23.1 billion and a profit of Rs. 2.6 billion against a challenging market environment.
The Swiss-based company said its rural development efforts in Sri Lanka were recognised by a UNGC (United Nations Global Compact) publication on “Responsible Business Advancing Peace”, at the UNGC Leaders Summit in late 2012.
The case study was on Nestlé Lanka and its work in developing the dairy industry in the North and East regions as a best practice.
In a statement on Tuesday, the company disclosed its finances saying total revenue grew by 10.8 per cent for the third quarter, partly benefitting from exports which recorded an increase of 31 per cent.
Net profit for the period grew in line with revenue growth while the company continued to increase investment in trade, marketing and other consumer communication activities, the media statement said.
“Each quarter in 2013 has posed new challenges and maintaining a growth momentum has been difficult. It is with no small amount of pleasure therefore that I note that the Nestlé team continues to persevere and deliver respectable top line growth. We continue to uphold and better our efforts to enhance the quality of life for our consumers and other stakeholders with consistent good performance, responsible business operations and nutritionally superior food and beverages of the highest safety and quality,” noted Ganesan Ampalavanar, Managing Director for Nestlé Lanka PLC.
Nestlé is Sri Lanka’s largest private sector collector of fresh milk, purchasing an average of almost 175,000 litres of milk a day from 18,000 Sri Lankan farmers. Nestlé products in Sri Lanka include Nespray, Milkmaid, Milo and Shaktigen.