KARACHI: Nestlé Pakistan Limited reported its annual results for 2021, continuing its journey towards recovery during 2021 with a revenue growth of 12.2% as compared to 2020. The company reported its operating performance at the end of its Board of Directors meeting at the Company’s Head Office.
Gradual resumption of economic activities during the year helped the company to ensure undisrupted supply and availability of products, numeric distribution expansion and continue with innovation and renovation initiatives supported by investments behind the brands. Volume growth, cost savings initiatives across the value chain and portfolio and pricing management contributed to the improvement in profitability.
The 2021 launches included coffee products in Ready to Drink and 3in1 ranges, new sparkling drinks under its premium NESTLÉ FRUITA VITALS brand, EVERYDAY KASHMIRI CHAI, introduction of NESTLÉ PURE LIFE ACTIVE in 5-gallon format, NIDO GUFs Nutritods with no added sucrose and a number of products by Nestlé professional.
The Board of Directors has recommended to pay final cash dividend of Rs 90 per share as compared to Rs 61 per share in 2020.
The Company expects inflation to remain high and challenges posed by record high commodity prices and global supply chain disruptions to continue in 2022. These coupled with recently imposed taxation measures are likely to have an adverse impact on the already deteriorating purchasing power of the consumers.
Copyright Business Recorder, 2022