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Nestle: 9-month sales rise of 3.4 percent

Nestle: 9-month sales rise of 3.4 percent

Nestle SA, the world's biggest food and drink company, said Thursday that sales for the first nine months of the year rose 3.4 percent to 81.4 billion Swiss francs (US$70.1 billion), with growth both in its food and beverage business and in pharma.
Sales growth was particularly strong in Asia, Oceania and Africa, but gains were also recorded in the Americas and Europe, a company statement said.
Chief Executive Paul Bulcke said the performance reflected "strong growth momentum in both the developing and the developed world."
The company, which reports earnings only for the first six months and full year, did not break out third-quarter sales.
Total food and beverage sales were 75.6 billion francs (US$65.1 billion), an increase of 3 percent. Sales for the pharma division added 5.6 billion francs (US$4.8 billion), up 8.9 percent.
It said the results were affected by the strength of the Swiss franc, with other currencies showing higher percentage gains.
Nestle said it had strong organic growth, an industry yardstick comprising volume growth and price increases.
"In the first nine months of 2008, the organic growth of Nestle's total food and beverages business amounted to 5.4 percent in Europe, 9.5 percent in the Americas and 14.2 percent in Asia, Oceania and Africa," the company said.
It said developing markets in all regions performed well, with an organic growth of 16.8 percent.
Organic growth was 5.1 percent in developed markets, it said.
"The premium and luxury end of the market continues to provide strong growth, with brands such as Nespresso, Haagen Dazs (ice cream) and Gourmet pet food performing well," it said.


Updated : 2021-10-23 00:31 GMT+08:00