Nestle sales fall in the first quarter

SÃO PAULO-Nestlé announced a 5.1% drop in sales for the first quarter in comparison with the same period of the previous year, to 20.82 billion Swiss francs ($ 23,67 billion). Analysts consulted by Dow Jones Newswires projected a kickback to 21.32 billion Swiss francs.
The Switzerland-based company revealed a slowdown in two of the three geographical regions in which it operates, leading organic sales growth to 4.2% in the period, below the long-term average of advancement in a range of 5% to 6%. Last year, Nestle did not reach the goal under this type of measurement, which eliminates currency fluctuations and acquisitions, for the first time in four years.
However, the company confirmed the projection for the full year, betting that the performance in the second half of the year will improve, with organic growth of around 5% and improves on the banks, on earnings per share in constant currency and capital efficiency.
The Chief Executive of Nestle, Paul Bulcke said in a statement that organic growth for the first three months of this year was in line with the expected and warned that the strengthening of the Swiss franc should have a negative effect on sales reported.
The company does not publish the full report, with net income, on quarterly basis. Source: Dow Jones Newswires.