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Nestle Pakistan Records 24.9% Revenue Increase in Third Quarter

Lahore, Nestle Pakistan has announced its third-quarter results for 2023, posting a revenue of PKR 151,153 million. This marks a significant 24.9% rise in comparison to the figures from the same period in the previous year. The company credits this revenue surge to the growth across their product range and activities stimulating demand.

According to a news release by Nestle, the financial insights were made public following the conclusion of the Company's Board of Directors' meeting, which took place at its head office in Lahore.

While the company faced challenges, including high inflation rates and constrained foreign exchange availability for imports, it successfully navigated these issues. Nestle Pakistan attributes its resilience to a stringent hold over fixed costs and an emphasis on localizing the procurement of raw and packaging materials, which in turn uplifted the operating profit.

Looking forward, Nestle Pakistan remains prudently hopeful for the concluding quarter of 2023. The company's strategy hinges on amplifying its export activities to reinforce its position in the market and bolster the national economy. All the while, Nestle remains committed to providing its consumers with high-quality products.

The post Nestle Pakistan Records 24.9% Revenue Increase in Third Quarter appeared first on Pakistan Business News.