KUALA LUMPUR, Nov 12 — Nestle (Malaysia) Bhd chalked up a pre-tax profit of RM177.3 million for the third quarter ended September 30, 2013, up 1.9 per cent, when compared with the previous quarter on good turnover growth, especially in its domestic business.
The group registered a 5.7 per cent higher turnover of RM1.2 billion for the period under review.
In its filing to Bursa, Nestle Malaysia said the weakening of the ringgit against the US dollar was partially mitigated by forward hedging positions.
From an input cost perspective, the price trend of commodities consumed by the group was favourable, expect for milk powder which was on an increasing trend.
On the export front, demand from affiliate companies was slow and affected performance.
This unfavourable trend is also the result of uncertainties in the global economic environment as well as logistical issues experienced in the later part of the quarter.
For the first nine months ended September 30, 2013, the group registered a turnover of RM3.6 billion, 5.6 per cent higher than the corresponding period of last year.
Leveraging on the positive Malaysian economy and the group’s strong and well-established brands, sales performance within the domestic market was very encouraging.
Several of the product categories, including confectionery, liquid drinks, food and beverage, achieved robust growth.
Profit before tax for the nine months ended September 30, 2013 improved to RM594.610 million from RM524.804 million in the previous corresponding period. — Bernama
