Investing
Nestle posts 7.8% rise in nine-month sales
© Reuters. The Nespresso logo and boxes of Nespresso coffee pods are pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. REUTERS/Pierre Albouy
LONDON (Reuters) – Nestle posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers balk and hurt volumes.
Organic sales, which exclude the impact of currency movement and acquisitions, rose 7.8% in the nine months ended September, the maker of Maggi stock cubes and Nescafe coffee said.
Analysts had on average expected organic sales growth of 8.1%.
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