Nestle shares rise on higher profit margin expectation
27 Apr 2018 / 12:18 H.
PETALING JAYA: Nestle (Malaysia) Bhd's share price rose RM2.20 or 1.61% this morning after indicating higher profit margin for 2018.
At 11.31am, the stock, which was the top gainer, stood at RM138.70 with 93,800 shares changing hands. Nestle has a market capitalisation of RM32 billion.
Yesterday, the group said at its AGM that it is aiming for a higher profit margin in 2018 on the back of lower commodity prices and the strengthening of the ringgit.
Nestle recorded a marginal increase in its net profit for the first quarter ended March 31, 2018 to RM231.22 million from RM230.69 million a year ago.