Friday, October 19, 2018

Nestlé has high sales in 3Q, but overshadows Asia Director output result

The Chief for Asia of Nestlé, Wan Ling Martello, took the sales growth of the largest packaged food company in the world by announcing Thursday that neta is leaving the company. The company said it is seeing a better time in North America and in infant nutrition segment globally, as sales grew to 2,9% in the third quarter, up from 2,6% in the second quarter and in line with the forecasts from Reuters. Nestlé 's numbers were overshadowed by Martello, who was Vice President of brand and most recently led a revival in the fast-growing region formed by the Asia-Oceania-Africa (AOA) from 2015. When the American leave the company at the end of the year, she will be replaced by Chris Johnson, you're on there 35 years Nestlé and is currently head of human resources and corporate services of the group. The zone AOA was the fastest growing region of Nestlé during the quarter, with organic sales on high 4,4%-helped by faster growth in China, where the infant nutrition and coffee products had good performance. "Our business in China continued to grow at a rate of one digit," said Chief Executive Mark Schneider said in a statement. Meanwhile, the region of Latin America see positive organic growth and accelerated the pace of sales to about 5% in the third quarter. "Despite a challenging environment, Brazil had positive growth in the third quarter," said Nestle in the balance sheet. The Swiss group has confirmed 3% growth target for this year. The rival Unilever reported a third-quarter revenue on Thursday, as was able to pass on higher commodity costs to consumers. The French Danone said on Wednesday that lower demand for food for babies in China and a consumer boycott in Morocco decreased sales growth in the third quarter.
DCI - 18/10/2018 News Item translated automatically
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