Nestle says long-term peace essential for business

Nestle Lanka Ltd said last week that while first half 2006 results were good future growth of the company depended on long-term peace and stability.

Seen here is the Nestlé Lanka Kurunegala Factory

Managing Director Stuart Young said the business community was looking forward to an early re-affirmation of the ceasefire agreement and speedy return to the peace process.

The Board of Directors of the company on August 25 approved a 100% interim dividend of Rs 10 per equity share, according to a company statement.

Nestle recorded a sales growth of 12.5% in the first half of 2006. Profit after tax improved by 60.7% mainly as a result of strict cost control measures across the value chain.