Nestlé Lanka has posted a revenue of Rs. 36.5 billion with growth of 5.1% in 2016 amidst tough market conditions in 2016.
Sales grew by 5.1% to Rs. 36.5 billion, with profit after tax of Rs 4.4 billion for the full year ending December 31, 2016. Tax increases resulted in some erosion in the Q4 2016 revenue of Rs. 8.6 billion.The impact of cost increases and taxes was partially mitigated through focus on driving efficiencies across the value chain. Nestlé Lanka’s Managing Director, Shivani Hegde stated: “2016 has witnessed a very challenging business environment. Our steady progress and the external recognitions are a testament to the trust consumers place in our products, and the skills of our people. We continue to invest in strengthening our brands, training our people, increasing manufacturing capacities, and enhancing the quality of life of the people of Sri Lanka.”
The Board approved an interim dividend of Rs 40 per share on February 21, 2017 and has proposed a final dividend of Rs 40 per share for the full year, to be approved at the company’s Annual General Meeting on May 5,2017.
The company’s flagship brands strengthened their position in the market, focusing on innovation and renovation to meet changing consumer needs and nutrition requirements.
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