Nestlé sales of €19.6bn beat analysts’ estimates
Nestlé sales are up 0.4pc in the first three months of 2017 to €19.6bn.
Organic sales at the company, who’s brands include Kit Kat, SMA nutrition, and S.Pellegrino, were up 2.3pc, greater than analysts expectations who had predicted 2pc organic growth.
Revenue in Europe, the Middle East and North Africa increased by 1.7pc, while in Asia, Oceania and sub-Saharan Africa the company recorded a growth of 4.5pc in revenue.
“Organic growth of 2.3pc this quarter is within our full-year guidance range. We were encouraged by the growth in Asia and the resilience of consumer spending in Europe. Consumer demand in Americas remained soft. We confirm our 2017 guidance and have made good progress with our growth and efficiency projects to position our company for enhanced value creation”, Mark Schneider, Nestlé ceo said.
In 2016 Nestlé recorded sales of CHF 89.5bn (€83.7bn), operating profit for the year was CHF 13.7bn (€12.8bn).