Lahore: Nestlé Pakistan has announced its financial results for the year 2024, recording sales of PKR 193.2 billion, a decline of 3.7% from the previous year. The results were disclosed following a Board of Directors meeting at the company's head office.

According to a statement by Nestle Pakistan Limited, the decline in sales was largely attributed to the implementation of an 18% General Sales Tax (GST) through the Finance Act 2024, which affected most of the company's portfolio. This tax increase was passed on to consumers, resulting in reduced demand. The company noted that its continued investment in brands, despite the lower sales, contributed to a decrease in operating profit.

Throughout 2024, Nestlé Pakistan emphasized initiatives aimed at empowering employees, fostering inclusivity, and enhancing workplace engagement. The company reported an increase in female leadership, with women now comprising 27.5% of leadership roles, up from 23.4% the previous year.

The company invested PKR 4.4 billion in local projects, including PKR 875 million towards renewable energy such as solar and biomass. Nestlé achieved all its sustainability targets for the year, which included reducing greenhouse gas emissions, improving packaging sustainability, and enhancing water regeneration efforts. Furthermore, the company inaugurated its ninth clean drinking water facility and created its first Urban Forest in Lahore, planting 50,000 trees.

Looking ahead, Nestlé Pakistan maintains a cautious outlook for 2025, anticipating continued consumer demand challenges due to the GST. However, the company remains committed to investing in key brands, optimizing its operations, and advancing its sustainability goals.