Karachi: Nestlé Pakistan Ltd. has declared a significant first interim cash dividend of PKR 111 per share, equivalent to 1110%, during a board meeting held on July 25, 2024. The company also reported its financial results for the six-month period ending June 30, 2024, showcasing strong revenue growth and profitability.

According to information available from the Pakistan Stock Exchange (PSX), Nestlé Pakistan's revenue from contracts with customers rose to PKR 107.68 billion for the first half of 2024, up from PKR 101.43 billion in the corresponding period last year. The gross profit increased to PKR 39.76 billion, compared to PKR 38.18 billion in the previous year, despite a rise in the cost of goods sold.

For the quarter ended June 30, 2024, the company continued to show robust performance with a gross profit of PKR 20.02 billion, up from PKR 17.81 billion in the same quarter the previous year. Operating profit for the six-month period was PKR 19.26 billion, although slightly lower than the PKR 21.39 billion reported in 2023, reflecting increased distribution and selling expenses, which were reclassified from the cost of goods sold for better financial presentation.

Profit after taxation stood at PKR 10.07 billion for the half-year, a slight decrease from PKR 10.99 billion in the previous year. Earnings per share also reflected this trend, recording PKR 222.05 compared to PKR 242.25 last year.

The detailed financial statements indicate that while the company faced higher finance costs and other expenses, it managed to maintain profitability through strategic management of selling, distribution, and administrative expenses. This financial prudence ensures that Nestlé Pakistan remains well-positioned to continue its growth trajectory and deliver value to its shareholders.

These results demonstrate Nestlé Pakistan's strong market position and operational efficiency in a challenging economic environment.