Nestle 1Q Sales Rose; Portfolio Management Is on Track
April 18 2019 - 1:55AM
Dow Jones News
By Anthony Shevlin
Nestle SA (NESN.EB) said Thursday that sales in the first
quarter rose and that its planned portfolio management is on
track.
The Swiss food-and-beverage giant said sales for the period were
22.18 billion Swiss francs ($21.98 billion) compared with CHF21.26
billion the year previous.
On an organic basis, sales rose 3.4%.
Organic sales in the Americas rose 3.4% in the quarter to
CHF7.51 billion, Nestle said.
The company said its portfolio management is "full on track"
with the strategic reviews of its skin-health and Herta cold-cuts
businesses to be completed by mid and late 2019, respectively.
Nestle confirmed its guidance for the year, with continued
improvement in organic sales growth and underlying trading
operating profit margin.
Nestle Chief Executive Mark Schneider said: "Our increased
speed, innovation for a changing world and execution focus are
clearly paying off. We confirm our outlook for the year."
The company expects underlying earnings per share at constant
currency rates and capital efficiency to increase as part of its
2020 targets.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
April 18, 2019 01:40 ET (05:40 GMT)
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