Nestle reports 4.3% rise in sales to CHF 22.2B in Q1

Thursday, 18. April 2019 07:18

World's largest food and beverage producer Nestle S.A. recorded a 4.3% annual increase in total sales for the first three months of 2019, reaching 22.18 billion Swiss francs and above expectations. The quarter was also marked by organic growth of 3.4%, real internal growth (RIG) of 2.2% and pricing growth of 1.2%, the release from the company showed on Thursday.

The negative impact of foreign exchange on sales was 0.3%, while net acquisitions had a positive impact of 1.2%. The company said it maintained growth in its two largest markets, the United States and China, as well as Brazil, which contributed largely to the acceleration.

"We are pleased with Nestle’s solid organic sales growth in the first quarter, building on our full-year 2018 momentum. Our increased speed, innovation for a changing world and execution focus are clearly paying off. We confirm our outlook for the year. In the quarter, we announced the launch of a new range of 24 premium coffee products under the Starbucks brand. The Nestlé and Starbucks teams did an outstanding job and developed these products in just 6 months," Mark Schneider, the chief executive officer of the company said.

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