Nestle sales up in tough conditions
Friday 20 April 2012
Swiss food and drinks giant Nestle reported first-quarter sales of 21.39 billion Swiss francs (£14.56 billion) today.
The company, based in Vevey, said its first-quarter sales, up 5.6% from 20.26 billion Swiss francs (£13.79 billion) a year ago, reflected strong growth in emerging markets, despite low consumer confidence amid financial crises in developed countries.
"As anticipated, 2012 is already confirming itself to be a challenging year," Nestle chief executive Paul Bulcke said.
"In many developed markets where consumer confidence is low, the trading environment is subdued, whilst in most emerging markets conditions remain dynamic and rich in growth opportunities," he said.
"Our past and present investments, and continuing innovation, have enabled us to deliver good growth in the first quarter."
Mr Bulcke said a combination of higher prices and improvement in getting raw materials has enabled the company to "confirm our full-year outlook of delivering 5% to 6% organic growth" and higher earnings for shareholders.
Like many Swiss companies, Nestle has had to cope with the strength of the Swiss franc against other currencies, but since last summer Switzerland's central bank has moved aggressively to weaken the franc and improve the outlook for Swiss exports.
The world's biggest food and beverage maker said its organic sales growth was a robust 7.2%, while real internal growth was 2.8%.
Nestle said the organic growth was 6.2% in the Americas, 2.3% in Europe and 11.4% in Asia, Oceania and Africa.
The company had posted sales of 22.34 billion francs (£15.2 billion) in the first quarter of 2010.
food + drinkMichelin-starred Tom Sellers on being this year's hottest property
tvParents (and kids) rejoice! A new wave of fantastic family entertainment is here
booksGeese, gorillas, grandads... and growing up
food + drinkHow one grocery e-tailer is gearing up for the Yuletide rush
food + drink
travelFor broadcaster Mishal Husain, a long-haul Club Med holiday was a chance for her family to explore its sense of 'zen' and 'animation'
Nelson Mandela: 11 inspirational quotes to live your life by
Queen to miss Nelson Mandela funeral over security and long-haul flight concerns
'Never a good time to increase MPs' pay': Jack Straw defends politicians' 11% pay rise in face of public outrage
The 'terrorist' and the Tories: What did Nelson Mandela really think of Margaret Thatcher?
Japan cracks down on leaks after scandal of Fukushima nuclear power plant
- 1 Hundreds arrested as Canadian police smash worldwide paedophile ring
- 2 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 3 Why Barcelona chose Everton to educate their latest prodigy
- 4 Mass murder in the Middle East is funded by our friends the Saudis
- 5 Japan cracks down on leaks after scandal of Fukushima nuclear power plant
- < Previous
- Next >
iJobs Money & Business
£25000 - £50000 per annum + Benefits + Bonus: Harrington Starr: C++ Server Dev...
£300 - £350 per day: Harrington Starr: Leading Electronic Trading Software Ven...
£80000 - £100000 per annum + benefits + bonus: Harrington Starr: Project Manag...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...