Nestlé said today (8 June) that it has successfully accounted for increasing food input prices for fiscal 2007 and that is confident it will meat earnings targets for the year.
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Speaking at an investor Q&A seminar at Nestlé’s HQ in Switzerland, CFO Paul Polman said that the company is “covered through 2007” to meet the challenges of increasing coffee, milk and sugar prices.
Chief executive Peter Brabeck-Letmathe added that Nestlé, the world’s largest food company, is gearing up for further commodity price increases next year.
“We are hedging on raw materials into 2008,” he said.
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