Nestle posts higher net profit of RM205.18m in Q1 2022

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KUALA LUMPUR, April 26 — Marking its 110th time in Malaysia, Nestle (Malaysia) Bhd recorded an advanced net profit of RM205.18 million in the first quarter ended March 31, 2022 (Q1 2022) to RM205.18 million from RM175.16 million in the same period last time, despite the impact of increased commodity prices and the one-off Prosperity Tax.

Profit also bettered RM1.69 billion from RM1.45 billion preliminarily, the food and libation counter said in a Bursa Malaysia form.

The better development was driven by both advanced domestic and import deals, which grew14.9 percent and25.3 percent, independently.
Strong performance in both the core food and libation ( F&B) business and the Eschewal-of-Home ( Squall) business under Nestlé Professional, serving from the increased mobility and reopening of the hostel, eatery, and café channels post-lockdown.

During Q1 2022, the group introduced several new products, including the low fat, low swab Maggi Nutri-Licious polls range, certified with the Ministry of Health’s healthier choice totem, as well as Nescafé Tarik mixes and Maggi funk condiment pastes.
The ice cream member also saw new launches similar to the Nestlé Musang King ice cream, Nestlé Mochi Boba ice cream and La Cremeria chocolate elf fudge with sea salt.

On current time prospects, the group is confident about sustaining growth instigation across the time, indeed if it sees growth leveling down from current high situations in the coming diggings.
It, still, didn’t issue any profit cast.

“The global terrain remains veritably grueling, with wide affectation gaining traction across the world and also in Asia, exacerbated by the war in Ukraine impacting farther prices and vacuity of crucial food goods similar as wheat, barley, and sunflower canvases.
” Overall, 2022 is shaping ( out) as a time of solid growth in the top line and some pressure on the nethermost line as we do our stylish to balance the pressures on our cost value chain with internal edge and moderate price increases,” Nestle said.

Despite the foreseeable hurdles, the company said it aims to continue using all possible openings to drive another time of solid and flexible results while making meaningful progress in the environmental, social, and governance (ESG) space to contribute to Malaysia’s sustainable progress. — Bernama

Source: malaymail

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