Nestlé was the highest ranking F&B company in Business Today’s list of Sri Lanka’s top thirty leading corporates for 2017-2018. The company was recognised for its enduring commitment to the country; enabling growth, providing economic and social opportunities, and enhancing the quality of life of the Sri Lankan people.
Business Today has been compiling the Business Today TOP 30 list since 1997 to acknowledge listed business entities that have ‘stood firm and performed with changing tides’ in the economy. With the assistance of KPMG Sri Lanka, it evaluates company performance recorded during the financial year ending December 31 and March 31, based on available published information.
An excerpt from the Business Today Top 30 states: “Amidst a difficult year, Nestlé Lanka made a commendable progress driven by sustainable growth...The Company invested 8.4 billion rupees in the rural economy, with 3.5 billion rupees paid to farmers for fresh milk and 4.9 billion contributed to the coconut industry for procuring fresh coconuts. Continuing to believe in the long-term prospects of the Sri Lankan market, an investment of five billion rupees was initiated to expand production capacity for dairy and coconut based products.”
Said Shivani Hegde, Nestlé Managing Director: “Nestlé has been in Sri Lanka for 112 years. We continue to invest because we are committed to supporting the development of this country and believe in its potential. A long-term approach to business has always been part of Nestlé’s DNA. Our business model focuses on integrating sustainable development into our business activities, to create value for both our shareholders and society. We are pleased to receive this recognition for the fourth year running as a salute to our work in enhancing quality of life and contributing to a healthier future for all Sri Lankans.”
Nestlé is the world’s largest food and beverage company. It provides direct employment to approximately 1,000 people in Sri Lanka whilst contributing to the livelihoods of more than 25,000 local farming families. The company is Sri Lanka’s largest private-sector collector of fresh milk and one of the world’s largest exporters of coconut milk powder. Nestlé has received a number of awards and recognitions over the years for its contribution and strong commitment to the country, including Sri Lanka’s Most Respected F&B Company by LMD.