Nestle sees strong growth in sales

 

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The Independent Online

Nestle raised its annual outlook yesterday after strong emerging markets demand for its Maggi and Nescafe brands boosted the underlying sales for the first half of the year by 7.5 per cent.

The food company said that, despite the uncertain economic backdrop, it had seen sales growth in all markets, including Europe.

Looking ahead, it expects its underlying sales growth for the full year to come in at the top-end of its 5-6 per cent long-term range.

"Our guidance is cautious due to the environment we're operating in," the company's chief financial officer James Singh said, adding that costs at the Vevey-based company would rise by around 3bn Swiss francs (£2.53bn) this year.

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