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North America boosts Nestle’s 9M sales

North America boosts Nestle’s 9M sales

Mubasher: Food and beverage giant Nestle on Thursday reported an increase in its sales during the first nine months of 2018, supported by improvements in North America.

Sales of the Swiss consumer-goods firm rose 2% to CFH 66.4 billion ($66.9 billion) during the nine-month period ended September, compared to CHF 65.1 billion ($65.54 billion) in the same period of the prior year.

“The nine-month sales show solid growth across most geographies and product categories,” Mark Schneider, Nestle CEO, said.

The company’s organic growth was 2.8%, while real internal growth (RIG) and pricing were 0.5%, in line with the company’s expectations.

“We are starting to see improved momentum in North America and in our infant nutrition category globally. Our business in China continued to grow at a mid-single-digit pace,” Schneider added.

Nestle noted that its growth and efficiency initiatives put it on track to meet its full-year 2018 guidance and 2020 targets.