Addressing a press conference here after the board meeting, Nestle India managing director Carlo M Donati stated that the company had achieved sales turnover of Rs 1,599.9 crore for the year ended December 1998 and net profit of Rs 86.2 crore. The sales of the company were up 12 per cent over the previous year's Rs 1,425.6 crore while net profit reported 16 per cent growth over 1997's level of Rs 74.3 crore.

The company earned 38 per cent of its income from soluble beverage powders such as Nescafe and Milo. About 26 per cent of the income was generated by the milk products group comprising brands such as Lactogen and Nestogen milk powders, and Milkmaid condensed milk. Culinary products, sold under the Maggi brand, despitereporting 29 per cent growth in 1998, contributed just about 11 per cent to the sales turnover. Other foods including confectionery products contributed 24 per cent of the income.

Donati said he was satisfied with performance of the milk products and soluble beverages category. He felt that the company required to refocus on the confectionery business. On this, he said, the company proposed to strengthen the portfolio with a slew of product launches during this year.