Nestlé (Malaysia) chief executive officer Juan Aranols.

KUALA LUMPUR (July 27): Nestlé (Malaysia) Bhd saw its net profit grow 6.64% to RM180.91 million in the second quarter ended June 30, 2023 (2QFY2023), up from from RM169.65 million a year ago.

The strong earnings performance was mainly attributed to the group’s higher sales and its continuous focus on internal efficiencies amidst sustained pressure on commodity prices.

In a filing with Bursa Malaysia on Thursday (July 27), Nestlé (Malaysia) said its revenue rose 6.83% to RM1.75 billion, as compared to RM1.64 billion a year earlier, thanks to stronger domestic sales driven by robust consumer demand.

The group declared an interim dividend of 70 sen per share, which will be paid on Oct 5, 2023.

For the first half of 2023 (1HFY2023), Nestlé (Malaysia)’s earnings increased by 0.8% to RM378.06 million, up from RM374.83 million a year earlier.

Its revenue grew 7.8% to RM3.59 billion, as compared to RM3.33 billion a year before.

Commenting on itsprospects, Nestlé (Malaysia) chief executive officer Juan Aranols acknowledged that multiple factors of uncertainty remain, especially those derived from a weakened ringgit and the ongoing volatility in commodity and energy markets.

“We remain confident in our ability to deliver another year of solid sales growth, improved cash flow performance and resilient profitability and shareholder return,” he said in a separate statement on Thursday.

At the closing bell, Nestlé (Malaysia) shares traded down by 10 sen or 0.08% to RM132, valuing the food and beverage giant at RM30.95 billion.

Read also:
Nestle sales outlook brightens after strong first half