SWITZERLAND: Smallest turnover growth since 2009 for Nestlé | Progresiv
Swiss food concern Nestlé's first quarter turnover grew 3.9 % autonomously, which is actually the company's smallest growth since 2009. Nevertheless, Nestlé sticks by its previous 4.2 % full-year growth forecast.
In its first quarter, Nestlé managed a 20.9 billion Swiss franc turnover, some 19 billion euro according to its own statements this morning. Turnover grew 3.9 % autonomously, but the overall numbers did leave analysts divided: they expected a 3.6 % autonomous growth, but a 21.11 billion Swiss franc turnover. In any case, the result is welcomed as "extremely encouraging considering the disappointment of past quarters".
Nestlé ‑ known for KitKat, Maggi, Nespresso and Nescafé among other things - said it sold fewer frozen pizzas and prepared meals in the United States, although its coffee subsidiaries Nescafé and Nespresso performed well, while Maggi gained back market share after its dramatic recall from last year.
Sales in emerging markets went up 5.6 %, while developed markets limited their growth to 2.5 %. Belgian CEO Paul Bulcke did confirm the company would stick to its previous 4.2 % full-year turnover growth forecast. (www.retaildetail.eu)