Nestle keeps upbeat tone as Q1 growth accelerates

Food group Nestle confirmed it expected organic sales growth to exceed 3 percent this year after good momentum in the United States and China helped it post better-than-expected sales growth in the first three months.

Consumers’ appetite for fresh, locally produced foods has hit sales of packaged goods, a trend Nestle and its peers are trying to buck by focusing on fast-growing categories like infant formula or coffee, accelerating innovation and putting less sugar and fat in their products.

Organic sales growth at the maker of Nescafe instant coffee and Maggi soups accelerated to 3.4 percent in the first quarter of 2019, ahead of the average estimate of 2.8 percent in an Infront Data poll of analysts.

“Our increased speed, innovation for a changing world and execution focus are clearly paying off. We confirm our outlook for the year,” Chief Executive Mark Schneider said in a statement on Thursday.

The company based in Vevey in western Switzerland said its biggest markets, the United States and China, maintained good momentum in the quarter, with the largest growth contributions coming from petcare, dairy and infant nutrition.

Organic sales growth at the maker of Nescafe instant coffee and Maggi soups accelerated to 3.4 percent in the first quarter of 2019, ahead of the average estimate of 2.8 percent in an Infront Data poll of analysts.

“Our increased speed, innovation for a changing world and execution focus are clearly paying off. We confirm our outlook for the year,” Chief Executive Mark Schneider said in a statement on Thursday.

The company based in Vevey in western Switzerland said its biggest markets, the United States and China, maintained good momentum in the quarter, with the largest growth contributions coming from petcare, dairy and infant nutrition.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/nestle-keeps-upbeat-tone-as-q1-growth-accelerates/68935097

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