Nestle Sees Impressive Organic Sales Growth
Nestle beat Q3 expectations with a 4.9% growth, driven by growing demand for pet food and health products. The company has further updates its guidance for 2020 organic sales to around 3%.
Indeed, Nestle has been able to come out of the pandemic a comparative winner, thanks to its broad product range, which gave the company the chance to offset the lost sales to restaurants and cafes. Additionally, demand for food and drinks consumed at home remained as strong. The company is currently eager to continue developing its product portfolio, as well as its health science business, which has recently gotten a boost from the acquisition of Aimmune Therapeutics.
All in all, for the first nine months of the year, Nestle's organic sales grew by 3.5%, beating the 2.8% estimate. Sales in the Americas reported the strongest growth rate in the nine-month period, and Asian sales were also slightly positive. Sales in Swiss francs, on the other hand, fell 9.4% to 61.9 billion Swiss francs ($68.33 billion).
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