7/30/2020, 7:17 AM (Source: TeleTrader)
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Nestle sales fall 9% to 41.15B Swiss francs in H1

Nestle S.A. reported on Thursday that its sales for the first half of fiscal 2020 came in at 41.15 billion Swiss francs, declining 9% compared to the same period in 2019.

The company noted its organic growth reached 2.8% in the three-month period and reported earnings per share (EPS) surged by 22.2% to 2.06 Swiss francs, while underlying EPS fell 5.9% to 2.01 Swiss francs. The company added it expects to achieve organic growth between 2% and 3% in full-fiscal 2020, taking the current COVID-19 situation into account, and noted its underlying trading operating profit margin is expected to improve.

"Nestle has remained resilient in a rapidly changing environment, delivering solid organic growth and improved margins in the first half," CEO Mark Schneider stated.

Baha Breaking the News (BBN) / NP