Nestle Malaysia chief executive officer Juan Aranols
PETALING JAYA: In the first half of 2024, Nestlé Malaysia’s sales reached RM3.3 billion, down 8% from the same period in 2023 due to subdued consumer sentiment and constrained purchasing power during festive seasons.
Despite a challenging environment, Nestlé maintained profitability, with H1 Profit Before Tax at RM385 million and Profit After Tax at RM289.1 million.
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CEO Juan Aranols noted efforts to moderate price increases despite high food costs and expressed cautious optimism for a return to growth by H1 2025, expecting conditions to improve by year-end.
“We continue to work tirelessly to improve the nutritional profile of our products and testament to this is, as an example, the Healthier Choice Logo for Milo by the Ministry of Health. We have also brought to market a number of relevant innovations such as Kit Kat Dark Borneo, made with cocoa beans from Sabah and Sarawak, sourced via our Nestlé Borneo Cocoa initiative, in partnership with the Malaysian Cocoa Board,” he says.
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