Nestlé: confirms outlook as organic growth speeds up
(CercleFinance.com) - Nestlé said on Friday that its organic growth accelerated in the second quarter and that it is on course to hit its targets.
The Swiss food giant said that organic growth reached 3.6% in the first half of the year, led by the United States and Brazil, just above the 3.4% in the first three months of the year.
Total reported sales increased by 3.5% to 45.5 billion Swiss francs in the first six months of 2019, the group said, with acquisitions having a positive impact of 1.1%.
Underlying earnings per share (EPS) rose by 15.7% at constant currencies and by 14.6% as reported, to 2.13 Swiss francs.
"We are encouraged by our first half results and have made further progress toward our 2020 financial goals," said CEO Mark Schneider.
Full-year guidance for 2019 was confirmed, with Nestle still expecting organic sales growth of around 3.5% this year.
The shares were trading 1.8% higher at 104 Swiss francs in Zurich after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Swiss food giant said that organic growth reached 3.6% in the first half of the year, led by the United States and Brazil, just above the 3.4% in the first three months of the year.
Total reported sales increased by 3.5% to 45.5 billion Swiss francs in the first six months of 2019, the group said, with acquisitions having a positive impact of 1.1%.
Underlying earnings per share (EPS) rose by 15.7% at constant currencies and by 14.6% as reported, to 2.13 Swiss francs.
"We are encouraged by our first half results and have made further progress toward our 2020 financial goals," said CEO Mark Schneider.
Full-year guidance for 2019 was confirmed, with Nestle still expecting organic sales growth of around 3.5% this year.
The shares were trading 1.8% higher at 104 Swiss francs in Zurich after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.