Nestlé continued its momentum from 2015, delivering Rs. 9.8 billion in sales and a growth of 9.1% for the first quarter ending 31 March 2016.
The company also posted a profit of Rs. 1.3 billion for the first quarter, recording a profit growth of 10.1% through portfolio mix and cost optimization across the value chain. The firms’s sales grew 9.1% to Rs. 9.8 billion.
Nestlé Lanka Managing Director, Shivani Hegde said: “We kicked off 2016 with passion and determination to win in the marketplace. I am pleased that we have continued the momentum of 2015 and deliveredgood first quarter results despite difficult market conditions. We are focusing on product innovation and renovation and on strengthening our capabilities to delight our consumers, enhance the lives of the local community and deliver results for our shareholders.”
In line with its plans to develop its milk procurement network in the North and support the rural economy, Nestlé has opened a new milk chilling centre in the North-Eastern town