Nestle Lanka PLC has reported a post-tax profit of a provisional Rs 2.6 billion in the year ending 31 December 2011, up from Rs 1.9 billion earlier in what the company says was a ‘challenging year’.
“I am pleased that we have been able to deliver strong top and bottom line growth in a very challenging year for us. Our solid financial achievements are a testament to the resilience of our Nestlé business model and the determination and capabilities of our team,” Alois Hofbauer, Managing Director, Nestlé Lanka PLC, noted in a statement this week.
According to the annual results posted on the Colombo Stock Exchange website, the Swiss-controlled company said its revenue grew to Rs 25.8 billion from Rs 21 billion in the comparative accountings years.
Profit the last quarter of 2011 was Rs 605 million against Rs 432 million in the comparative 2010 quarter.
Last year Nestlé invested over Rs 2 billion in capacity expansion for its core business under a planned Rs 10 billion investment over time. |
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