Nestlé Pakistan reports uptick in sales for the year 2022

Lahore (Muhammad Yasir)

Nestlé Pakistan reported its full year results for 2022, recording an increase of 21.9% in its revenue as compared to the same period last year.

The results were shared at the end of the Company’s Board of Directors’ meeting at its Head Office.

This growth was achieved despite external challenges of high inflation, limited foreign exchange availability to pay for imports and devastating floods. Relentless focus on ensuring product availability, innovation and renovation initiatives, supported by investments behind the brands, helped to offset the headwinds mentioned above.

The operating profit also improved, as a result of sales growth, favorable product mix, pricing management and tighter control on fixed costs.

The Company maintains a cautious outlook for 2023 due to external challenges e.g. restriction on imports, low foreign exchange availability, pressure on the local currency, and an increase in taxes.