SWITZ: Emerging markets boost Nestle Q1
- Nestle Q1 sales rise 4.4%
- Organic sales growth up 6.5%
- Group sales and margins to be up in 2010
Nestle cheif executive Paul Bulcke hails growth in emerging and developed markets
Nestle this morning (21 April) booked an increase in first-quarter sales, boosted by its performance in emerging and developing markets.
For the three-month period, total group sales rose 4.4% to CHF26.3bn (US$24.6bn). Organic sales grew 6.5% and Nestle booked real internal growth - the growth achieved without external funding and excluding pricing, currency exchange and acquisitions - of 4.8%.
“Our strong sales performance in the first quarter confirms we are capturing opportunities in our different growth pillars, both in emerging and developed markets, even in a global economic environment which remains challenging,” said Paul Bulcke, Nestlé CEO.
In the Americas, sales reached CHF7.6bn, representing 5.1% organic growth, while in Europe sales increased 3.4% to CHF5.3bn.
Bulcke reaffirmed the group’s outlook for 2010.
“For 2010 as a whole, we expect our food and beverages business to achieve higher organic growth than in 2009 as well as a further EBIT margin improvement in constant currencies.”
“The first-quarter sales performance highlights that Nestlé’s business is as strong and balanced as ever and the company should have a good 2010 in what continues to be a difficult, albeit recovering, consumer environment,” noted Andrew Wood, analyst at Sanford C Bernstein.
Click here for the full release and click here for Paul Buckle's warning on Russia.
Sectors: Baby food, Bakery, Canned food, Cereal, Chilled foods, Condiments, dressings & sauces, Confectionery, Dairy, Dried foods, Emerging markets, Financials, Frozen, Health & wellness, Meat & poultry, Snacks
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