4/21/2022, 7:15 AM (Source: TeleTrader)
more TeleTrader news


Chart for: NESTLE N

Nestle's sales up 5.4% to 22.2B Swiss francs in Q1

Nestle S.A. reported on Thursday that its sales for the first quarter of fiscal 2022 came in at 22.2 billion Swiss francs, rising 5.4% from the same period a year earlier.

The company's organic growth reached 7.6% in the three-month period. Nestle confirmed its 2022 outlook, stressing it sees organic sales growth at 5% this year and expects an increase in underlying earnings per share.

"In these first months of the year, the war in Ukraine has caused unspeakable human suffering," CEO Mark Schneider stated. "Amid this challenging environment, we delivered strong organic sales growth with resilient RIG [real internal growth]. We stepped up pricing in a responsible manner and saw sustained consumer demand. Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year," he added.

Baha Breaking News (BBN) / NP