Image Credit: Business Recorder
Nestlé Pakistan Limited, one of the leading consumer goods companies in Pakistan, has announced a record-breaking profit of over Rs 15 billion for the year ended December 2022. Despite the challenging macroeconomic conditions, the company's net sales grew 22% to reach Rs 163 billion. This growth can be attributed to the company's effective business strategy, strong brand image, and diversified product portfolio.
Nestlé's gross profit also grew by 23% year on year (YoY) to Rs 49.6 billion, while profit from operations increased by 24% to Rs 26.78 billion. Profit before tax also witnessed significant growth, increasing by 27% to Rs 22.8 billion. The company's profit after tax (PAT) grew by 18% to Rs 15 billion, which is the highest ever recorded PAT of Nestlé Pakistan.
The consumer goods giant has been able to achieve this milestone through consistent efforts to improve its operations and enhance customer experience. The company's robust distribution network and innovative marketing strategies have helped it to expand its market reach and achieve sustainable growth.
Nestlé Pakistan Limited has also announced a final cash dividend of Rs 95 per share, in addition to Rs 240 per share interim cash dividend already paid during the year 2022. As of Monday, the company's share is trading at a price of Rs 5,300 per share.
Nestlé Pakistan Limited is headquartered in Lahore and has four production facilities across the country. The company is principally engaged in the manufacturing, processing, and sale of dairy, nutrition, beverages, and food products, including imported products. Its factories in Sheikhupura and Kabirwala are multi-product, whereas the ones in Islamabad and Karachi are water factories.
Overall, Nestlé Pakistan Limited's financial performance in 2022 is a testament to its commitment to quality, innovation, and customer satisfaction. The company's strong financial position and growth trajectory indicate a bright future for the company and its stakeholders.
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