KARACHI: Nestlé Pakistan posted revenue of Rs37.8 billion for the first quarter of the year, with a growth of 16.8 percent compared to the same period last year, continuing its journey of recovery.

The results were announced during a board meeting at the Company’s Head Office. The Company attributed the growth in revenue to relaxation of COVID-19 related restrictions and normalization of economic activities along with portfolio and pricing management. The boost to the operating profit was helped by a favourable product mix, tighter control on fixed costs and better absorption of overheads.

The Company further stated that the continuous rise in commodity and energy prices have resulted in significant increase in input costs, which has been further aggravated by the recent devaluation of the currency. The Company is doing everything necessary to ensure delivery of Nutrition, Health and Wellness products to consumers and remains cautiously optimistic about sustaining the growth.

Copyright Business Recorder, 2022