By Chester Tay
Nestle (Malaysia) Bhd.'s third-quarter net profit slid 14% from a year earlier due to weaker sales from the hotel, restaurant and café channels.
Net profit fell to 128.4 million ringgit ($31.3 million), while revenue declined 0.9% to MYR1.39 billion, the food company said Tuesday.
For the first nine months of the year, net profit slumped 22% to MYR420.2 million, while revenue dropped 3.5% to MYR4.04 billion.
Nestle said challenges are expected to persist in the near term, but added that it believes longer-term prospects are positive.
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(END) Dow Jones Newswires