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Nestle Reports 7.8% Organic Sales Growth Amid Inflation Pressures

Published Oct 19, 2023 08:56
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Facing historic inflation levels, Nestle reported a 7.8% organic sales growth over the first three quarters of 2023, slightly below the expected 8.1%. The Swiss food and beverage giant's sales for this period reached CHF68.83 billion ($76.57 billion), a minor decrease from last year's CHF69.13 billion.

The company's growth was primarily driven by pricing, which accounted for 8.4%, while real internal growth was negative at 0.6%. Nestle's CEO, Mark Schneider, underscored the company's efforts towards volume and mix recovery, predicting a positive shift in the second half of the year for real internal growth.

Despite missing the anticipated sales growth, Nestle maintained its full-year guidance. The company continues to forecast organic sales growth in the range of 7-8% and an underlying trading operating profit margin between 17% and 17.5%.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Nestle Reports 7.8% Organic Sales Growth Amid Inflation Pressures
 

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