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%.
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“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.”
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By GlobalData“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.
