Wednesday, 21 April 2010

A quick look at Nestle (21.4.2010)

Stock Performance Chart for Nestle (Malaysia) Berhad
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A quick look at Nestle (21.4.2010)

Nestle 1Q net up 38% to RM138.8m
Written by The Edge Financial Daily
Wednesday, 21 April 2010 19:03

KUALA LUMPUR: NESTLE (M) BHD [] posted net profit of RM138.79 million in the first quarter ended March 31, 2010, up 38% from RM100.35 million a year ago as its gross margins were boosted by better quality product mix and some exceptional items.

It said on Wednesday, April 21 the turnover edged up 3.7% to RM1.02 billion from RM983.93 million. Earnings per share were 59.19 sen versus 42.79 sen.

Nestle said during the challenging economic environment last year, Nestle continued to focus on its long-term strategy of investing in manufacturing lines to increase production capacity and building its brands.

"This has positioned Nestlé to benefit from the improving local and global economy," it said.

It said the group's concerted efforts to embark on tactical marketing campaigns helped boost domestic sales by 6.2% against prior quarter, and were higher by 0.7% against the same period last year.

"Contributions from the exports sector, which constitute 23% of total sales, recorded a double-digit growth and also added to the higher turnover. The growth was mainly contributed by sales of Nescafe products manufactured from the new lines invested last year and non-dairy creamer," it said.

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