Nestlé Pakistan Limited posted a revenue of PKR 32.3 billion for the three months period ended 31 March 2021, an increase of 8.2% compared to the same period last year, despite many difficulties emanating from the COVID-19 crisis. These results were announced following a Board of Directors’ meeting at the Company’s Head Office. The growth was driven by volume increase and pricing management and benefitted from the improvement in the macro-economic situation of the country.
Operating profit of the company improved compared to the same period of last year due to various cost savings initiatives across the value chain and better absorption of fixed overheads. Net profit for the quarter also improved due to lower financing cost owing to reduction in the policy rate.
Despite the ongoing third wave of COVID-19 and smart lock down across the country, the company remains hopeful to sustain the growth trajectory by ensuring delivery of Nutrition, Health and Wellness products to consumers and enhancing distribution reach. The company continues to be fully committed to keep employees, business partners and communities safe during these challenging times. Nestlé Pakistan Limited is also continuously focusing on the following key areas as part of its Creating Shared Value (CSV) efforts: sustainable packaging, water resource management, rural development and women empowerment.
Nestlé is the world’s largest food and beverage company. It is present in 191 countries around the world, and its 328,000 employees are committed to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future. Nestlé offers a wide portfolio of products and services for people and their pets throughout their lives.
Last month, Nestlé won the first prize at Living the Global Compact Best Practice Sustainability Awards 2020, for the fifth consecutive time, announced by local chapter of UN Global Compact Network, for its continuous commitment towards UN SDGs and the ten principles of the UNGC embedded in the way it conducts business.