10/19/2022, 7:16 AM (Source: TeleTrader)
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Nestle sales up 9.2% to 69.1B Swiss francs in 9M 2022

Nestle S.A. stated on Wednesday that its sales for the first nine months of fiscal 2022 amounted to 69.1 billion Swiss francs, jumping 9.2% compared to the same period in 2021.

The company's organic growth reached 8.5% in the nine-month period. Nestle updated its 2022 outlook, stressing it now sees organic sales growth around 8% this year and expects an increase in underlying earnings per share.

"We delivered strong organic growth as we continued to adjust prices responsibly to reflect inflation," CEO Mark Schneider stated. "Our real internal growth remained resilient despite a high base of comparison and continued supply chain constraints, with limited demand elasticity. At the same time, we continue to invest in R&D, marketing and sustainability initiatives," he added.

Baha Breaking News (BBN) / NP