KUALA LUMPUR, April 26 — Marking its 110th year in Malaysia, Nestle Bhd recorded a higher net profit of RM205.18 million in the first quarter ended March 31, 2022 to RM205.18 million from RM175.16 million in the same period last year, despite the impact of increased commodity prices and the one-off Prosperity Tax.
The better turnover was driven by both higher domestic and export sales, which grew 14.9 per cent and 25.3 per cent, respectively. During Q1 2022, the group introduced several new products, including the low fat, low salt Maggi nutri-licious noodles range, certified with the Ministry of Health’s healthier choice logo, as well as Nescafé Tarik mixes and Maggi chicken marinade pastes.
On current year prospects, the group is confident about sustaining growth momentum across the year, even if it sees growth levelling down from current high levels in the coming quarters."The global environment remains very challenging, with widespread inflation gaining traction across the world and also in Asia, aggravated by the war in Ukraine impacting further prices and availability of key food commodities such as wheat, barley and sunflower oils.
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