By Chester Tay
Nestle (Malaysia) Bhd.'s second-quarter net profit fell 33% as Covid-19 lockdowns hit sales to hotels, restaurants and cafes.
Net profit for the April-to-June period fell to 105.5 million ringgit ($25.3 million), the food company said in a stock-exchange filing Tuesday.
Revenue dropped 8.7% to MYR1.22 billion, it said.
The pandemic also led to additional expenses to ensure worker safety.
For the first half of the year, Nestle's net profit slid 26% to MYR291.8 million, while revenue slipped 4.8% to MYR2.65 billion.
The group maintained its interim dividend payout of MYR0.70 a share.
Nestle says it is well-positioned to deliver sustainable earnings for the remainder of the year and beyond. It will continue to tread cautiously as the economic environment remains uncertain.
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