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Nestle Lanka PLC has posted its best ever results with an after-tax profit of Rs.1.9 billion in the year ended December 31, 2010, up from Rs.1.58 billion the previous year with the company’s Chairman Mr. Antonio Helios Waszyk saying in its annual report that they will be investing more than Rs.2 billion this year to install additional production capacities and focus on dairy development initiatives.
Nestle continues to be one of the highest dividend payers among quoted companies with the directors recommending a final dividend of Rs. 22.50 a share on top of an interim Rs. 12 per share paid on Jan. 31.
Nestle currently collects milk everyday from 15,000 dairy farmers and had paid Rs.1.49 billion to these farmers for milk purchased, the report said.
The company which posted turnover growth of 10.3% to Rs.21.42 billion from the previous year’s Rs.19.43 billion has also drawn a master plan to invest Rs.10 billion in Sri Lanka "over the next few years," the Chairman said.
Nestle is targeting doubling their local fresh milk collection in line with the vision of developing domestic dairy production in coming years.The company’s Managing Director, Mr. Alois Hofbauer, said that with double digit growth during the year under review, "the company has delivered on its promise for 2010."
"Strengthening our core products with enhanced nutritional profiles whilst maintaining their great taste, I am proud to say that now MAGGI has more calcium, NESPRAY has more iron and MILO has less sugar," he said.
The company which operates in 130 countries world-wide had significantly accelerated dairy development activity in the North and East opening two new milk chilling centres in Kilinochchi ad Oddusudan, the first to be opened in those areas in 30 years.
Hofbauer said that dairy development was a key focus area throughout the year and they have significantly accelerated their activity in the North and East.
"Today your company is the country’s largest private sector collector of milk, with the largest number of milk chilling centres in the country. We have overachieved on our milk collection target for the year with a 20% growth and today collect over 100,000 litres of milk from 15,000 farmers every day," Hofbauer told shareholders.
He said that the company leads the market in most segments that it operates in and is within the top two in others.
"Our success in the market is a testament to our commitment to ensure quality, taste and nutrition across all our products, and to continually earn our consumers’ trust by touching their lives in a positive way," he said.
Nestomalt which Hofbauer called "a truly Nestle Lanka brand’’ has been placed among the top 20 of the Nestle world-wide Hit Parade. This product is a major cash cow for the company.
Nestle has a stated capital of Rs.537.3 million with retained earnings running at slightly over Rs.2 billion. The company’s total assets as at December 31, 2010 were Rs.6.54 billion and total liabilities Rs.3.99 billion.
Nestle SA with 90.82% of the company’s equity is the dominant shareholder with all other shareholders individually owning less than one percent of the company’s equity. The public holding as at December 31, 2010 was 8.99%.
The year under review saw the Nestle share trading at a low of Rs.425 and a high of Rs.800 closing at Rs.663.
The company has 5,641 individual and 144 institutional shareholders.
The directors of the company are: Messrs. Antonio Helio Waszyk (Chairman), Alois Hofbauer (MD), S.S. Islam, P. Schaufelbeger, Ranjan Seevaratnam and M. Dayananda.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=25387
Nestle continues to be one of the highest dividend payers among quoted companies with the directors recommending a final dividend of Rs. 22.50 a share on top of an interim Rs. 12 per share paid on Jan. 31.
Nestle currently collects milk everyday from 15,000 dairy farmers and had paid Rs.1.49 billion to these farmers for milk purchased, the report said.
The company which posted turnover growth of 10.3% to Rs.21.42 billion from the previous year’s Rs.19.43 billion has also drawn a master plan to invest Rs.10 billion in Sri Lanka "over the next few years," the Chairman said.
Nestle is targeting doubling their local fresh milk collection in line with the vision of developing domestic dairy production in coming years.The company’s Managing Director, Mr. Alois Hofbauer, said that with double digit growth during the year under review, "the company has delivered on its promise for 2010."
"Strengthening our core products with enhanced nutritional profiles whilst maintaining their great taste, I am proud to say that now MAGGI has more calcium, NESPRAY has more iron and MILO has less sugar," he said.
The company which operates in 130 countries world-wide had significantly accelerated dairy development activity in the North and East opening two new milk chilling centres in Kilinochchi ad Oddusudan, the first to be opened in those areas in 30 years.
Hofbauer said that dairy development was a key focus area throughout the year and they have significantly accelerated their activity in the North and East.
"Today your company is the country’s largest private sector collector of milk, with the largest number of milk chilling centres in the country. We have overachieved on our milk collection target for the year with a 20% growth and today collect over 100,000 litres of milk from 15,000 farmers every day," Hofbauer told shareholders.
He said that the company leads the market in most segments that it operates in and is within the top two in others.
"Our success in the market is a testament to our commitment to ensure quality, taste and nutrition across all our products, and to continually earn our consumers’ trust by touching their lives in a positive way," he said.
Nestomalt which Hofbauer called "a truly Nestle Lanka brand’’ has been placed among the top 20 of the Nestle world-wide Hit Parade. This product is a major cash cow for the company.
Nestle has a stated capital of Rs.537.3 million with retained earnings running at slightly over Rs.2 billion. The company’s total assets as at December 31, 2010 were Rs.6.54 billion and total liabilities Rs.3.99 billion.
Nestle SA with 90.82% of the company’s equity is the dominant shareholder with all other shareholders individually owning less than one percent of the company’s equity. The public holding as at December 31, 2010 was 8.99%.
The year under review saw the Nestle share trading at a low of Rs.425 and a high of Rs.800 closing at Rs.663.
The company has 5,641 individual and 144 institutional shareholders.
The directors of the company are: Messrs. Antonio Helio Waszyk (Chairman), Alois Hofbauer (MD), S.S. Islam, P. Schaufelbeger, Ranjan Seevaratnam and M. Dayananda.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=25387
