Nestle will increase prices by more than eight percent in 2022

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ZURICH (Reuters) – Price hikes have boosted growth at food giant Nestle in 2022.

The Swiss group’s sales climbed to 94.4 billion francs, as Nestle announced on Thursday. The manufacturer of Nespresso, Maggi, KitKat and Perrier thus achieved an increase of 8.3 percent adjusted for acquisitions, sales of divisions and currency effects. Price increases contributed 8.2 percent to the growth.

Profits, on the other hand, collapsed by 45.2 percent to 9.3 billion francs. In the previous year, the sale of a block of shares in the cosmetics group L’Oreal had inflated profits. According to a survey conducted by the group itself, analysts had expected an average profit of CHF 11.6 billion and sales of CHF 95 billion for 2022. Despite the drop in profits, Nestle plans to raise the dividend to CHF 2.95 per share.

(Report by Oliver Hirt and John Revill; edited by Sabine Wollrab. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for companies and markets ).)

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