Staff Reporter Lahore
Nestlé Pakistan Limited’s revenue continued to improve, clocking a growth of 13.2%, for the nine months ended Sep 30,2021, as compared to the same period last year.
Increase in volume resulting from uptick in economic activities after the government relaxed COVID-19 restrictions as well as pricing management contributed to this growth.
The results were announced upon the conclusion of the meeting of the Board of Directors on Oct 26, 2021.
The Company also made further progress in the recovery of operation profit, which increased primarily due to favourable product mix and better absorption of overhead costs.
Net profit for the same period has also benefitted from reduction in financing costs.
The Company remains cautiously optimistic despite the continuous rise in commodity and energy costs as well as the devaluation of the rupee. The rising input costs will pose challenges not just this year; the impact will trickle well into the next year.
