LAHORE, Pakistan: Nestlé Pakistan, leading Nutrition, Health and Wellness company in the country, recorded a slightly slower first quarter with an overall earnings of Rs 3.44 billion for the three months ended on March 31, 2016 as compared to Rs 3.67 billion in the corresponding period last year.
The results were announced upon the conclusion of the meeting of Nestlé Pakistan’s Board of Directors.
After an impressive display of a strong financial performance in the last quarter of 2015, Nestlé Pakistan, the Pakistani subsidiary of the world’s largest food and beverage company, posted its results for the first quarter of 2016.
The company posted a growth of 5.5% which is in line with the company’s yearly target. As a result of a low inflationary environment which meant consistent pricing, Nestlé Pakistan recorded an overall increase of in its total revenue by almost Rs 1.39 billion.
Its earnings per share decreased from Rs 81.01 per share in the same period last year to PKR 75.89 per share. In the area of sales, the revenue of Nestlé Pakistan stood at PKR 26.73 billion, PKR 1.39 billion higher compared to the same period last year.
The company has a positive outlook for the remainder of the year and said the results were as expected.