Nestlé Pakistan Limited recorded stellar profit growth of 43 percent in 2021 compared with the last year.
According to the financial results, the FMCG company’s profit surged to Rs. 12.76 billion in 2021, up from Rs. 8.88 billion reported in 2020.
The 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-saving initiatives across the value chain and portfolio and pricing management contributed to the improvement in profitability.
The board of directors has recommended paying a 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.
However, the company remains cautiously optimistic about staying on course on its recovery journey in the coming year by capitalizing on strong brand equity and a highly committed workforce supported by continuous initiatives for operational excellence.
