Finance

Nestlé Pakistan Limited announces financial results for H1 2020

Lahore (29 July 2020): Nestlé Pakistan Limited recorded sales of PKR 58.4 billion for the period January-June 2020, an increase of 1.0% compared to the same period last year despite the unprecedented circumstances caused by the COVID-19 outbreak. The Company recorded net profit of PKR 3.9 billion, a decline of 13.3% compared to the same period last year due to higher input costs and additional expenses on account of COVID-19.

The Company benefited from its diversified product portfolio which helped to offset a sharp decline in demand for some of the products which were severely impacted due to the ongoing situation. Further the Company ensured the availability of products throughout this period to meet consumer needs while ensuring the safety, health and wellbeing of its employees.

The Company also committed 100 million rupees in product and cash donation in the national response to the COVID-19 pandemic. As a part of this commitment, 4 million servings of milk, iron fortified dairy products, baby cereals, water and juices were distributed through national and provincial disaster management authorities, reputed NGOs and local governments to meet the nutritional needs of both COVID-19 affectees and frontline workers.

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