Categories: Business

Nestle reports rising sales after having a challenging 2012

Nestle, the world’s biggest food group, has reported rising sales but says it is having a “challenging year”.

The Swiss company said its sales in the first three months of 2012 were 21.4 billion Swiss francs ($23.4 billion), up 5.6% from the same period last year.

The group behind KitKat and Nespresso said that the trading environment had been subdued in many developed markets.

But it added that in most emerging markets “conditions remain dynamic and rich in growth opportunities”.

Nestle, the world's biggest food group has reported rising sales but says it is having a "challenging year"

Nestle struggled in 2011 with the strength of the Swiss franc, which cut its earnings by 13.4% in the full year.

But in the past six months the Swiss central bank has been intervening to weaken its currency and support the country’s exporters.

Nestle said an expected “improved raw material environment” in the second half of the year together with rising prices meant it could maintain its forecast of improved earnings and profit margins for the full year.

It did not comment on the deal it is expected to finalize this month to buy Pfizer’s infant nutrition business for about $9 billion.

 

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

White House 2024: Voter Fraud Claims Flood Social Media

Misleading allegations, rumours and outright lies about voting and fraud are flooding online spaces in…

1 day ago

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

4 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

4 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago