KUALA LUMPUR: Nestle (Malaysia) Bhd maintained positive momentum over the second quarter of its financial year (2QFY23) despite a weakened ringgit and volatility in the commodity and energy markets.

       For 2QFY23, the food and beverage group said net profit came in at RM180.92mil, representing an earnings per share of 77.15 sen, as compared to a net profit of RM169.65mil in the previous corresponding quarter.

       The group's revenue ticked higher to RM1.75bil, as compared to RM1.64bil in the same quarter last year on the back of strong domestic sales supported by strong consumer demand.

       In line with the performance, the group declared an interim dividend of 70 sen per share, which was on a par with the first inteirm dividend in 2022.

       In his outlook, Nestle Malaysia CEO Juan Aranols said despite multiple uncertainties, the group remains confident of delivering another year of solid sales growth, improved cash flow performance and resilient profitability and shareholder return.

       "In addition to solid commercial and financial performance, we will continue driving and advancing our ESG agenda in its different fronts, including reforestation, packaging sustainability and progressive decarbonisation of our operations, while continuing to leverage our presence and scale to make a positive impact in the country," he said in a statement.

       In the six-month period to June 30, 2023, Nestle Malaysia recorded a net profit of RM378.06mil, which was slightly higher than RM374.83mil in the same period in 2022.

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       Revenue during the period was RM3.59bil as compared to RM3.33bil.