Nestlé forecasts solid sales growth and profit margins

Food company said price increases were passed on to consumers, and forecast more as the war in Ukraine raises costsZurich — Nestlé on Thursday confirmed it expects to grow sales by about 5% and keep margins broadly stable this year after higher pet food, dairy and coffee prices didn’t deter consumers in the first quarter, and forecast more price increases.

“We stepped up pricing in a responsible manner and saw sustained consumer demand. Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year,” the company said. At Nestlé, organic sales, which strip out currency swings and M&A, were up 7.6%, beating a 5% average forecast in a company-compiled consensus, thanks to price increases of 5.2%.

Nestlé has stopped selling non-essential products in Russia, but still supplies infant formula and medical nutrition despite pushback from employees in Ukraine.

Source: News Formal (newsformal.com)

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nestlé forecasts solid sales growth and profit marginsFood company says price increases were passed on to consumers, and forecast more as the war in Ukraine raises costs
Source: BDliveSA - 🏆 12. / 63 Read more »

Hyundai’s red-hot N pair gives Golf GTI food for thought – The CitizenThe Citizen provides easy to digest, up to date news and information to our online community. As a leading news publication in South Africa, we focus on bringing strong, easy to read news and information to our readers in a way that suits their busy lifestyles. The Citizen covers a large variety of reader interest subjects such as news, sport, business, politics, entertainment and leisure, motoring, health, analysis, auctions and horse racing just to name a few.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

STELLAR GAINS: The Stellenbosch food and wine scene is booming with new restaurants and wine barsIt’s been a successful summer for Stellenbosch. Restaurants are opening on almost every corner, interspersed with wine bars which serve as extensions to their estates. Hot sunny days blend into balmy evenings as pavement tables filled with happy patrons, and if you can find a parking spot – take it. Today you bless my morning with my profits I don't feel like going to work anymore but I'll get my office and celebrate with my colleagues I know this profits is enough to take care of my family for now until I earn again here. Thank you Harrismayson0 I Salute you Sir 🙌❤️
Source: dailymaverick - 🏆 3. / 84 Read more »

Sticks that give sodium the chop but keeps food tasting saltyJapan researchers develop electric chopsticks to enhance salty taste while helping reduce sodium intake
Source: SundayTimesZA - 🏆 47. / 51 Read more »

FOOD PRICES: Perfect international storm lights a rocket under the cost of cooking oilThe rise in the price of cooking oil has consumers reeling, and continued uncertainty in the commodities market is adding to the stress felt by ordinary citizens, fast food entrepreneurs and restaurant owners.
Source: dailymaverick - 🏆 3. / 84 Read more »

Ukraine’s Zelensky discusses 'threat of a global food crisis' with RamaphosaAfter weeks of waiting, President Cyril Ramaphosa has finally had his long-awaited phone call with Ukrainian President Volodymyr Zelensky. Mxim As usual the only purpose was to beg for money. He is the cause of the war because his arrogance
Source: TimesLIVE - 🏆 28. / 59 Read more »