independent

Monday 21 April 2014

Pod coffee keeps Nestle's Irish business brewing over

NESTLE has said its Irish business continued to grow last year, driven by an increase in pod coffee such as Nespresso.

The world's biggest food company said sales of pod coffee in Ireland and the UK surged 40pc year-on-year in 2012, a trend that is set to continue.

Nestle's chief executive for the UK and Ireland Fiona Kendrick said 2012 had been a "strong" one for the company.

"Our consumers are adapting to the tough economic climate by changing the way they shop.

We have grown our business by responding to this new reality, particularly in fast growing channels such as online shopping, convenience stores and discounters, as well as the more traditional outlets," she said.

Meanwhile, Nestle's 2012 overall underlying sales grew 5.9pc last year to €74.8bn, in line with a consensus analyst forecast.

The company, however, sees no respite for this year from a tough trading environment after sales growth undershot rival Unilever last year as emerging markets like Asia slowed.

Analysts said they were disappointed by weaker-than-expected growth in the last quarter in the Americas, which contributes a third of sales, and Asia, Oceania and Africa.

Irish Independent

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