Lahore: Nestle Pakistan has reported a sales total of PKR 149.2 billion for the nine-month period ending September 30, 2024, marking a 1.3% decrease from the same period last year. The company faces several economic pressures, including new taxes and rising costs, which have impacted its financial performance.
According to Nestle Pakistan Limited, the decline in sales was influenced by the new tax measures introduced in the Finance Act, which led to price increases and a subsequent drop in consumer demand. Additional factors affecting the company’s earnings include rising commodity prices and higher energy costs, along with increased investments aimed at strengthening its brand presence.
The company’s board, which recently convened at the headquarters, discussed these challenges and their impact on the financial results. Despite the current downturn, Nestle Pakistan is concentrating on optimizing its operations across the value chain and remains cautious about its prospects for the remainder of the year.
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