Nestle 1st Half Net Profit Fell, Backs 2019 View
July 26 2019 - 2:06AM
Dow Jones News
By Cristina Roca
Nestle SA (NESN.EB) said Friday that net profit in the first
half declined, and it backed its 2019 guidance, providing more
precise targets for its top line and margin.
Net profit for the period was 5 billion Swiss francs ($5.07
billion) compared with CHF5.8 billion the year previous, when net
profit benefited from the disposal of its U.S. confectionery
business.
The Swiss food-and-beverage company said sales in the first half
were CHF45.46 billion, up 3.6% on an organic basis.
"Our growth was broad-based with our largest market, the United
States, performing particularly well," Nestle Chief Executive Mark
Schneider said. Organic growth in the Americas region was 3.9%.
Real internal growth for the period was 2.6%, Nestle said.
For 2019, Nestle said it expects organic sales growth of about
3.5% and its underlying trading operating profit margin to be at or
above 17.5%.
Nestle also continues to expect its underlying earnings per
share in constant currency and capital efficiency to increase for
the full year.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
July 26, 2019 01:51 ET (05:51 GMT)
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