Nestle increases sales thanks to higher prices – outlook slightly better

taketonews

By Giulia Petroni

ZURICH (Dow Jones) — The Swiss consumer goods group Nestle passed on higher costs to consumers in the first nine months and increased sales sharply. For the year as a whole, Nestle SA was somewhat more optimistic than before.

According to the announcement, organic sales are expected to increase by around 8 percent in 2022. So far, an increase of 7 to 8 percent has been promised. Nestle expects the adjusted operating profit margin to remain at around 17.0 percent. As planned, the Group expects to increase both adjusted earnings per share at constant exchange rates and capital efficiency.

According to the other information, sales increased organically in the nine months by 8.5 percent to 69.13 billion Swiss francs. According to a consensus spread by Nestle, analysts had only expected CHF 68.91 billion. The group increased the prices alone by 7.5 percent due to noticeably higher costs.

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(END) Dow Jones Newswires

October 19, 2022 01:52 ET (05:52 GMT)

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