Nestle sales up 9% for 9-month period
October 18, 2007
by FoodBusinessNews.net Staff
VEVEY, SWITZERLAND — Sales for the first nine months of 2007 at Nestle were 78,711 million Swiss Francs ($67,393 million), up 9% compared with sales of 72,226 million Swiss Francs during the same period of the previous year.
"The group’s strong organic growth continued over the third quarter, reflecting good performances across most product categories," said Peter Brabeck-Letmathe, chairman and chief executive officer. "In spite of increasing input cost pressures, I remain confident that Nestle will achieve above-target organic growth and a sustainable margin improvement for 2007 as a whole."
In Zone Americas, sales were 23,799 million Swiss Francs ($20,362 million), up 5% from 22,540 million Swiss Francs during the same period of the previous year.
Nestle said while input cost pressures are increasing over the second half of the year, its full-year outlook is unchanged, with above-target organic growth and sustainable margin improvement predicted.
The company also has announced the introduction of Nestle Professional, a globally-managed business unit dedicated to out-of-home food and beverages. The unit will have full operational responsibility in 2008 and full financial responsibility in 2009.