“ diverse and evolving preferences across multiple consumer segments in this market, and these solid results continue to reflect the relevance of brands and product offerings here. “Our growth strategy remains anchored on delivering high-quality, great-tasting and nutritious products that meet the expectations of Malaysian ,” he said. Nestle Malaysia’s growth in this quarter was strongly underpinned by the launch of many new product innovations from both format and flavour perspectives, and Aranols added that this would continue to be a key company growth strategy moving forward. “Another important milestone we have seen was the renewal of MILO’s sponsorship agreement with the Olympic Council of Malaysia until 2028, continue providing support for Malaysian athletes, starting with the Olympic and Paralympic Games 2024, amongst others.” “In addition to solid commercial and financial performance, we will continue driving and advancing our ESG agenda in its different fronts, including reforestation, packaging sustainability and progressive decarbonization of our operations. ““While multiple factors of uncertainty remain, especially those derived from a weakened Ringgit and the ongoing volatility in commodity and energy markets, we remain confident in our ability to deliver another year of solid sales growth resilient profitability,” Nestle Malaysia CEO Juan Aranols said when delivering the latest results. It is also quite the achievement compared to Q1FY2023 results released earlier this year, where the firm’s profitability took a -3.9% hit - and has thus given the firm renewed confidence in being able to deliver positive growth this year. This can be considered a strong performance for the country amidst ongoing economic challenges ranging inflationary price hikes on various major food ingredients to declining Malaysian Ringgit currency exchange rates. The firm recently released its Q2FY2023 financial results, revealing a 6.8% growth year-on-year to RM1.75bn (US$) in revenue as well as a 6.6% growth year-on-year to RM180.9mn (US$) in profits after tax.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |