Home Health Nestlé Pakistan announces financial results for Q1 2020

Nestlé Pakistan announces financial results for Q1 2020

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Nestlé Pakistan posted a revenue of PKR 29.8 billion, an increase of 2.6% compared to the same period last year, despite many difficulties emanating from COVID-19 crisis. Juices and water as well as products for out-of-home channel were severely impacted by the lockdown. In addition, Afghanistan border closure had a major impact on the exports. Net profit for the same period has declined mainly due to higher financing cost and currency devaluation impact. These quarterly results were announced following a Board of Directors’ meeting at the Company’s Head Office.

In view of the very exceptional situation caused by COVID-19, we will continue to prioritize health and wellbeing of our employees, business continuity and supporting communities with our relief efforts. In order to meet the nutritional needs of both affected and frontline heroes during these times, Nestlé Pakistan committed PKR 100 million in the national response to the COVID-19 pandemic. As part of the pledge, the company is providing product and cash donations, which includes 4 million servings of milk, iron fortified dairy products, baby cereals, water and juices. Nestlé Pakistan has also partnered with Pakistan Red Crescent Society (PRCS) and will benefit from its unmatched presence and expertise in providing first-aid, emergency response and epidemic control. Cash donation provided by Nestlé Pakistan will be utilized for installation of hand hygiene stations at public places, quarantine and health facilities across Balochistan and Khyber Pakhtunkhwa. In addition to the above, the company will also match voluntary cash contributions made by its employees and the total amount will be given away as a cash donation.