Nestle Malaysia promotes sustainable cocoa farming in Borneo
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FBM KLCI bounces back on BNM s OPR cut
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Tuesday, 27 Apr 2021 03:02 PM MYT
The company s logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. Reuters pic
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KUALA LUMPUR, April 27 Nestle (Malaysia) Bhd recorded a lower net profit of RM175.16 million in the first quarter ended March 31, 2021 (Q1 2021) from RM186.31 million in the same quarter last year.
However, its revenue rose one per cent to RM1.45 billion from RM1.43 billion previously.
“The key contributor was the core food and beverage business, which recorded a growth of five per cent, driven by robust in-home consumption with good momentum across most brands,” it said in a filing with Bursa Malaysia today.
The benchmark index finished 10.42 points or 0.64% down at 1,629.41.
Malacca Securities research head Loui Low said investors decided to take profit after recent gains.
Component stocks that dragged the KLCI today included Petronas Dagangan Bhd, Hap Seng Consolidated Bhd and Digi.Com Bhd.
However, while the index-linked heavyweights were down today, the FBM Small Cap and FBM ACE indices closed higher.
The Small Cap Index was up 275.03 points or 1.67% at 16,775.69, while the ACE Index closed 90.70 points or 0.88% higher at 10,443.12.
A total 9.53 billion shares worth RM5.44 billion were traded on Bursa Malaysia today.
Active counters included AirAsia X Bhd, Sauddee Group Bhd and Dagang NeXchange Bhd.