Nestle maintains organic growth momentum in first nine months of 2016

Consumer Healthcare News

Nestle has announced its financial results for the first nine months of 2016, during which it generated a sales total of 65.5 billion Swiss francs (54.27 billion pounds).

This represented a year-on-year increase of one percent, while organic growth was measured at 3.3 percent, consisting of 2.5 percent in real internal growth terms and 0.8 percent coming from pricing.

“Nestle has reported continued organic growth for the first nine months of 2016, despite challenging market conditions.“

Broad-based improvements were seen across various categories, allowing the firm to gain or maintain its market share across most of its businesses. Both developed and emerging markets benefited from this trend.

Other key highlights of the year to date include the move to convert Nestle Professional from a globally-managed business to regionally managed units from the start of next year, as well as the creation of Froneri, a new joint venture in ice cream, frozen food and chilled dairy.

For the full year, the company is forecasting organic growth of around 3.5 percent, accompanied by improved margins and underlying earnings per share in constant currencies, as well as increased capital efficiency.

Paul Bulcke, Nestle's chief executive officer, said: "In an environment marked by deflation and low raw material prices, we continued to privilege volume growth, resulting in real internal growth at the higher end of the industry in both emerging and developed markets."

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