KUALA LUMPUR: Nestle (Malaysia) Bhd net profit for the first quarter ended March 31, 2011 rose 10% to RM152.69 million from RM138.79 million a year earlier on the back of a double digit growth in revenue ''driven by both domestic and export sales.

Revenue for the quarter rose to RM1.18 billion from RM1.02 billion

Earnings per share was 65.11 sen while net assets per share was RM3.28.

Nestle said on Wednesday, April 20 the operating profit stood at RM196 million, an improvement of 11.5% over the same period last year.

On a profit margin basis, it showed a slight reduction due to higher operating expenses versus an unusually low cost base in 1Q 2010.

Reviewing its operations, Nestle said on Wednesday, April 20 that after the strong rebound of the Malaysian economy in 2010, the improvement in consumer confidence led to a robust double digits growth in domestic sales.

This growth was accentuated by the stocks level reduction in the trade in 1Q this year, it said.

Nestle said that towards the end of the quarter, the Group also introduced new products, such as NESTEA in the retail channel and MILO Sejuk.

Exports sales also grew by double digit, sustaining the strong performance achieved last year, it said.