Nestle reports that nine-month sales jump 11%
Thursday, 18 October 2012
GENEVA: The world's biggest food company Nestle reported on Thursday an 11-percent rise in sales during the first nine months of the year to 67.6 billion Swiss francs (55.9 billion euros, $73.1 billion), and confirmed its full-year guidance.
The group said in a statement it had grown "in line with our expectations" during the January-September period.
The company had achieved 11.7-percent organic growth in emerging markets amid an improved product range.
In "intensely competitive developed markets," it had meanwhile managed to grow 2.4 percent, "in spite of a general economic malaise and low levels of consumer confidence," company chief executive Paul Bulcke said in the statement.
"Our continued momentum in real internal growth, combined with some easing of input cost pressures, allows us to confirm our full-year outlook," he said.
The Swiss company said it expected to achieve between 5.0 and 6.0 percent organic growth this year, as well as "improved margin and underlying earnings per share in constant currencies." (AFP)