Nestlé Lanka 2Q net profit up 33% to Rs.1.3bn

12 August 2015 03:25 am - 0 - {{hitsCtrl.values.hits}}

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Nestlé Lanka PLC, the local unit of Swiss food and wellness company saw its net profit for the quarter ended June 30, 2015 (2Q15) increasing 33 percent year-on-year (yoy) to Rs.1.3 billion.

The earnings per share for the quarter was Rs.24.18 up from Rs.18.16.

The revenue for the quarter stood at Rs.9 billion with a 11 percent year-on-year (yoy) growth and the gross profit rose 19 percent yoy to 3.7 billion.

The company announced a net profit of Rs.1.3 billion for the quarter under review, an improvement of 33 percent yoy.

For the first half of the year (2H15), the company announced revenue of Rs.18.3 billion with a yoy growth of 9.2 percent and net profit of Rs.2.5 billion, up 18 percent yoy.

The total assets of the company as at June 30, 2015 stood at Rs.11.6 billion compared to Rs.10.7 billion in June 30, 2014.
However net asset value per share edged down to 65.33 from Rs.69.15.

The company said it did not provide for the one-off Super Gains Tax announced in the January budget as the relevant legislation hadn’t been enacted.

“Our strong results are a reflection of the passion and capabilities of our people, coupled with the trust our brands enjoy amongst consumers. We are increasing our investments behind both, our people and our brands.

We continue with our commitment to provide nutrition, health and wellness to the people of Sri Lanka through innovative products and guidance on lifestyle choices,” Nestlé Lanka PLC Managing Director of Shivani Hegde said.

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Nestlé Lanka 2Q net profit up 33% to Rs.1.3bn

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