Global food group Nestlé’s share price slumped this morning (18 October) as the group reported a number of one-off hits and sales growth slowed in Asia.

Nestle’s shares fell as much as 2.1% in early morning trading to CHF60.95, despite an 11% increase in total sales to CHF67.6bn (US$73.2bn).

Nestle said flooding in the Philippines, one less shopping day in Europe and business disruptions in parts of Asia, Oceania and Africa weighed on results. Sales growth in the AOA region also slowed, to 9.4% in the first nine months of the year from an 11.6% pace in the first half.

Organic sales growth, which strips out currency effects and acquisitions, was 6.1% in the period, while real internal growth reached 2.9%.

Nestle maintained its full-year outlook of 5-6% organic sales growth, despite the tough trading conditions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.