Sri Lanka’s Nestlé unit net up 33-pct with revenue increase

Nestlé Lanka

Aug 12, 2015 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 33 percent to 1.3 billion rupees in the June 2015 quarter from a year earlier.

The firm reported earnings of 24.18 rupees per share for the quarter against 18.16 rupees reported a year earlier.

In the six months to June the firm reported earnings of 45.74 rupees per share on total profits of 2.4 billion rupees, which were up 18 percent from a year earlier.

The stock closed at 2,020 rupees, up 35.80 rupees Tuesday.

Nestlé said revenues rose 11 percent to 9.0 billion rupees in the June 2015 quarter and expenses rose at a slower 4 percent to 5.3 billion rupees and gross margins grew 23 percent to 3.7 billion rupees.

Other operating income has dropped to 59,000 rupees from 17 million rupees a year earlier.

Other operating income includes a net exchange loss of 37 million rupees for Jan to June 2015 against a loss of 5.6 million rupees for Jan to June 2014.

“Our strong results are a reflection of the passion and capabilities of our people, coupled with the trust our brands enjoy amongst consumers,” Managing Director of Nestlé Lanka Shivani Hegde said.

“We are increasing our investments behind both, our people and our brands.”

Managing Director of Nestlé Lanka Shivani Hegde

Managing Director of Nestlé Lanka Shivani Hegde