Nestle reports first quarter sales boost


Nestle reports first quarter sales boost
Food and beverage group Nestle has reported a six per cent sales lift in the first quarter to CHF25.7 billion (£12.68 billion) and confirmed expectations for the rest of the year.

Raising prices by three per cent last year helped the company cover the rising costs of coffee, cocoa and sugar.

Switzerland-based Nestle said sales benefited from organic growth of 9.8 per cent, including 4.5 per cent real internal growth. Acquisitions also added a further 3.2 per cent to the group's sales over the period.

Sales rose in every division except for bottled water, where sales declined by 0.6 per cent organic growth.

The strength of the Swiss franc reduced overall sales by seven per cent, the company added.

Paul Bulcke, chief executive of Nestle, said: "The strong start to the year reflects Nestle's momentum as the world's leading nutrition, health and wellness company.

"On the basis of this high-quality growth, with a good balance between real internal growth and pricing, I am confident we will achieve our 2008 targets: organic growth approaching the 2007 level together with improved EBIT margins in constant currencies."

Nestle said it expects raw material costs to come down in the second half of the year and forecasts growth above the company's long-term target.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure