Nestlé Pakistan’s Profit Grows by 49% in First 6 Months of 2021

Despite the challenges of the pandemic, Nestle’ Pakistan made a handsome profit of Rs. 5.87 billion during the first half of 2021, which is 49 percent higher than the profit reported in the same period last year. The volume growth, overheads control, and value chain cost optimization initiatives led to a 24.3 percent increase in the company’s operating profit as compared to the same period of the previous year. Additionally, the reduction in the financing costs contributed to an improvement in the net profit. ALSO READ KP Launches a New Project for Waste-Free Tourism Despite all the challenges of the ongoing pandemic and the rising input costs emanating from the surge in the commodity prices, the company remains cautiously optimistic about the performance in the coming period on the back of strong brand equity and continuous initiatives for operational excellence supported by a highly committed workforce. Nestlé Pakistan’s revenue for the first half of the year was recorded at Rs. 65.8 billion, which is 12.7 percent higher than what was recorded in the same period last year. ALSO READ Google’s Parent Company Reports $61 Billion Revenue in Q2 2021 The revenue growth was broad-based and supported by investments behind the brands, new product launches, and pricing management. Furthermore, the growth also benefitted from the depressed base of last year which was impacted by strict lockdowns. The share value of the company also reported a significant increase that stood at Rs. 127.5 from the level of last year when it was Rs. 85.4 per share.