Nestle sales go flat in Q1
Apr 21, 2017-Swiss food and drink giant on Thursday reported anaemic sales growth as Asian market strength was offset by weak consumer spending in the Americas. First quarter sales rose 0.4 percent to CHF21 billion ($21.09 billion), slightly below analyst expectations compiled by the AWP agency of CHF21.3 billion. But organic sales growth, which excludes exchange rate factors as well as acquisitions and spin-offs, came in better than expected at 2.3 percent against an analysts’ call of 2.1 percent. Unfavourable exchange rates weighed on sales growth with 0.4 points and asset sales with 1.5 points. Nestle said it struggled in North America, where weakness in sales of confectionery and animal food offset dynamic coffee and frozen goods turnover. Oceania and sub-Saharan Africa showed overall growth in sales, with the exception of China where turnover declined.
Published: 21-04-2017 08:56