Operating commercially in Malaysia since 1912, Nestlé (Malaysia) Berhad celebrated 110 years in the country in 2022. The food and beverage manufacturer owns a wide variety of well-established household brands ranging from MILO and MAGGI to NESCAFÉ and KIT KAT. As a consumer staple stock that permeates almost every aspect of Malaysian lives with its brands, Nestlé Malaysia continued to deliver a solid set of financial results in 2022. Here are seven things I learned from the 2023 Nestlé Malaysia AGM and EGM.

1. Revenue increased 16.2% year-on-year to RM6.7 billion in 2022, due to 12.9% and 29.3% growth in its domestic and the export business respectively. Nestlé Malaysia also recently increased their product pricing, although there will not be any price hikes for the rest of 2023.

Source: Nestlé Malaysia Net profit excluding extraordinary items increased 9.7% year-on-year to RM619.4 million, but was offset by high commodity prices, unfavourable foreign exchange, and the one-off prosperity tax....