Nestle Reports 9-Month Organic Growth Of 3.5%

Nestle SA (NSRGY.PK,NSTR.L) reported organic growth of 3.5% for the nine-months period of fiscal 2020, with real internal growth or RIG of 3.3% and pricing of 0.2%.

Sales for the nine-month period was CHF 61.9 billion compared to CHF 68.4 billion generated a year ago.

Mark Schneider, Nestlé CEO, said, "Nestlé has remained resilient in a difficult and volatile environment. Our people have acted in a responsible and prompt manner to mitigate the impact of the global pandemic and have adapted quickly to evolving consumer needs. Strong organic growth was broad based and supported by sustained momentum in the Americas, Purina PetCare and Nestlé Health Science, as well as the acceleration of our coffee business in the third quarter."

For the full year 2020, the company expects organic sales growth around 3%. The underlying trading operating profit margin is expected to improve, and underlying earnings per share in constant currency and capital efficiency are expected to increase.

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