KARACHI: Nestlé Pakistan reported its full year results for 2024, with sales at Rs 193.2 billion, reflecting a decline of 3.7 percent compared to the previous year. The results were announced at the end of the Company’s Board of Directors’ meeting at its Head Office in Lahore.
Sale performance was primarily impacted by the implementation of 18 percent General Sales Tax (GST) through Finance Act 2024, across majority of our portfolio, which was passed on to consumers leading to a reduced demand. The Company continued to invest strongly behind the brands, which, coupled with a lower topline, contributed to a decline in operating profit.
“In 2024, our focus was on empowering our people, fostering –inclusivity and creating a workplace where everyone thrives as we strengthened our efforts on financial literacy, talent development, employee engagement, well-being, and diversity.”
The percentage of female leaders grew to 27.5 percent this year from 23.4 percent last year.
The Company continues to be a force for good, investing Rs 4.4 billion in the country in 2024, with Rs 875 million spent on renewable energy (solar and biomass). All of our sustainability targets for 2024 were met including greenhouse gas reduction, sustainable packaging, water regeneration, collection of plastic waste, together with the inauguration of our 9th clean, safe drinking water facility. In addition, Nestlé developed its first Urban Forest in Lahore with plantation of 50,000 trees.
The Company maintains a cautious outlook for 2025 considering post GST pressure on consumer demand, while continuing to invest behind key brands, remaining committed on operational excellence and optimization across the value chain and driving our sustainability agenda.
Copyright Business Recorder, 2025
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