KUALA LUMPUR: Nestle (Malaysia) Bhd's net profit increased to RM133.7 million in the third quarter ended Sept 30, 2023 (3Q 2023) from RM112.65 million in 3Q 2022, boosted by robust sales growth.
Revenue rose to RM1.77 billion from RM1.68 billion previously, with domestic sales remaining a key contributor after recording a double-digit growth of 11.7 per cent.
The group's performance, however, was partially offset by export sales which were lower compared to the very high baseline in 3Q 2022, it said in a filing with Bursa Malaysia today.
At the same time, its Wyeth business, integrated for the first time in the quarter following its acquisition early this year, delivered positive results.
"Despite facing an uncertain environment, notably the challenges posed by the weakened ringgit and ongoing volatility in commodity and energy prices, we continue to leverage our strong foundation and proven capabilities in providing relevant product offerings that meet the diverse needs of Malaysians," it added.