7/28/2022, 7:17 AM (Source: TeleTrader)
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Nestle's first half sales up 9% to 45.6B Swiss francs

Nestle S.A. stated on Thursday that its sales for the first half of fiscal 2022 amounted to 45.6 billion Swiss francs, jumping 9.2% compared to the same period in 2021.

The company's organic growth reached 8.1% in the six-month period. Net profit was down 11.7% to 5.2 billion Swiss francs and earnings per share (EPS) fell 9.5% to 1.92 Swiss francs, while underlying EPS climbed 8.1% to 2.33 Swiss francs. Nestle updated its 2022 outlook, stressing it now sees organic sales growth between 7% and 8% this year and expects an increase in underlying earnings per share.

"In the first half of the year, we delivered strong organic growth and a significant increase in underlying earnings per share. Our local teams implemented price increases in a responsible manner," CEO Mark Schneider stated.

Baha Breaking News (BBN) / NP