Friday, October 20, 2017

Nestle's sales have slight fall from January to September

Nestle recorded a 0.4% drop in sales from January to September to 65.27 billion Swiss francs ($ $66.57 billion), compared to the previous year, partly affected by the sale of assets held by the company. Forecasts for total sales of the year remained.
The Swiss company said organic sales — excluding currency effects and acquisitions — increased 2.6% in the first nine months, adding that it expects organic growth of the total year stay near the same rate. Nestle previously predicted an organic growth between 2% and 4%. The consensus of 24 analysts pointed to a 2.5% advance in sales, to 65.58 billion Swiss francs.
The ceo of Nestlé, Mark Schneider, said the company is still looking for ways to improve margins. Schneider predicts that operating profit margin of Nestlé fall between 0.4 and 0.6 percentage points.
By region, Nestle reported 9.4% drop in revenue in Europe, the Middle East and North Africa, a result that was making up for 2% advance in the Americas and 2% in Asia, Oceania and Sub-saharan Africa. "North America remained stable. (...) The Brazil was affected by the difficult commercial environment, while Mexico remained resilient and other parts of Latin America continued to generate good growth, "said the company in a statement.
Supermercado Moderno - 19/10/2017
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