15 Rabiulakhir 1434
KUALA LUMPUR, Feb 25 , 2013 - RHB Research has maintained a "neutral" call on Nestle (Malaysia) Bhd, with an unchanged fair value of RM61.38.
The research house said Nestle's better performance last year in securing a net profit of RM505.4 million, with an increase of 18.3 per cent year-on-year due to robust domestic sales, aided by its 100th anniversary in Malaysia marketing promotions.
"While domestic spending is projected to be relatively resilient this year, we are cautious on the impact on consumer spending from potential subsidy rationalisation post-general election," RHB Research said in a statement.
However, Nestle's strong brands and market position would enable the group to weather any weakness in consumer spending, it said.
More information: BERNAMA
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