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4/25/2023, 7:19 AM (Source: TeleTrader)
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Nestle's revenue up 9.3% to 23.5B Swiss francs in Q1

Nestle SA reported on Tuesday that its revenue for the first quarter of fiscal 2023 came in at 23.5 billion Swiss francs, rising 9.3% from the same period a year earlier.

The company's sales growth was 9.3% in the three-month reporting period compared to the previous year. Moreover, the company confirms its forecasts for 2023, with organic sales growth between 6% and 8%. The underlying trading operating profit margin is expected to be in the range of 17.0% to 17.5%. In addition, Nestle expects "underlying earnings per share in constant currency and capital efficiency to increase."

"Nestle delivered strong organic growth in the first quarter, as our teams worked diligently to protect volume and ensure resilient mix. Portfolio optimization efforts and responsible pricing helped to offset the ongoing pressures from two years of cost inflation," said Mark Schneider, CEO of Nestle.

Baha Breaking News (BBN) / JG