PETALING JAYA: Nestlé (Malaysia) Bhd saw its gross profits jump 9.6 per cent to RM2.14 billion for the year ended December 31 2018, from RM1.95 billion previously on the back of higher turnover.
The group registered a turnover of RM5.5 billion, an increase of 4.9 per cent due to strong growth in both the domestic and export businesses in 2018.
“During the year, we continued to drive marketing and trade investments to reinforce the competitive position of our products on the shelf and heighten awareness and endorsement of our brands by consumers,” said chief executive officer Juan Aranols in a statement.
“We also leveraged opportunities offered by the digital and e-commerce landscape, to explore new avenues to deepen engagement with consumers,” he added.
Some of Nestle’s best performing new products last year were Maggi noodles, Milo three-in-one less sugar and Nescafe Cold Brew, as well as new ice cream variants such as Oreo ice cream and Nestlé Tropicana lychee yogurt flavour.
In light of the strong performance, the board of directors proposed a final dividend of RM1.40 per share. This will bring total dividends for the year to RM2.80 per share.
Headquartered in Switzerland, Nestlé is present in 189 countries around the world with 328,000 employees.
Its presence in Malaysia goes back as far 1912 and now sees the country as one of its key markets in Asia.