The Strategist

Demand for food and health products boost Nestle's sales in 2020


10/22/2020 - 05:58



On Wednesday 21 October, Swiss corporation Nestle presented its financial statements for the first nine months of 2020.



nonik0 via flickr
nonik0 via flickr
Organic revenue growth was 3.5%. This is better than analysts' expectations (2.8%). Sales of the company as a whole during this period fell by 9.4%, to 61.9 billion francs ($68.2 billion), primarily due to currency fluctuations, as well as the last year’s sale of the American ice cream business and leather care unit.

At the beginning of the year, Nestle, like other companies of this type, benefited from mass purchases before the COVID-19 pandemic lockdown due to a variety of products such as frozen ready-made meals. 

The company's vitamin, bioadditive and other health products business is now showing good results as consumers have become more concerned about their health, including the immune system. 

The Purina brand, which produces pet food, also showed good sales. Among the regions, the Americas performed particularly well, with organic sales growth of 5.1% during this period.

source: ft.com




More
< >

Wednesday, December 2nd 2020 - 02:49 ExxonMobil writes off $17-20B in assets

Tuesday, December 1st 2020 - 04:31 Apple gets €10M fine in Italy for misleading ads