Nestle 1st Half Net Profit Fell, Backs 2019 View -- Update

Date : 07/26/2019 @ 8:07AM
Source : Dow Jones News
Stock : Nestle S.a. (PC) (NSRGY)
Quote : 105.3  0.025 (0.02%) @ 8:59PM
Nestle S.a. (PC) share price Chart
After Hours
Last Trade
Last $ 105.30 ◊ 0.00 (0.00%)

Nestle 1st Half Net Profit Fell, Backs 2019 View -- Update

Nestle S.a. (PC) (USOTC:NSRGY)
Historical Stock Chart

6 Months : From May 2019 to Nov 2019

Click Here for more Nestle S.a. (PC) Charts.
   By Cristina Roca 

Nestle SA (NESN.EB) said Friday that net profit in the first half declined but it is on track to meet its 2019 objectives, and gave more precise targets for its top line and margin progression.

Net profit for the period was 5 billion Swiss francs ($5.07 billion) compared with CHF5.8 billion the prior year, when net profit benefited from the disposal of its U.S. confectionery business. Underlying trading operating profit rose 17%.

The Swiss food-and-beverage company said sales in the first half were CHF45.46 billion, up 3.6% on an organic basis and roughly in line with analyst expectations of CHF45.59 billion, according to a consensus estimate provided by FactSet.

"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%. The company said its deal with Starbucks Corp. (SBUX) and its pet-care business were main growth drivers.

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 operating profit margin to be at or above 17.5%. Margin expansion should accelerate during the second half of the year, Nestle said.

Nestle also continues to expect its underlying earnings per share in constant currency and capital efficiency to increase for the full year.

The company said its portfolio management is on track. Nestle expects the sale of its skin health business to be completed in the second half of the year, and said the strategic review of its Herta charcuterie business should be completed in late 2019.


Write to Cristina Roca at; @_cristinaroca


(END) Dow Jones Newswires

July 26, 2019 03:52 ET (07:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest NSRGY Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20191119 08:12:56