Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 11 29T073519Z 1 LYNXMPEIAS07Y RTROPTP 4 NESTLE OUTLOOK
2022 11 29T073519Z 1 LYNXMPEIAS07Y RTROPTP 4 NESTLE OUTLOOK

Nestle nudges 2022 sales outlook higher again


ZURICH (Reuters) -Nestle has nudged its 2022 sales outlook higher again, the world’s largest packaged food company said ahead of an investor seminar on Tuesday.

The company said it now expected organic sales growth of 8-8.5%, up from an October forecast of around 8%, and an underlying trading operating profit margin of around 17.0%.

Underlying earnings per share in constant currency terms and capital efficiency are also expected to increase, it added.

Organic growth, which cuts out the impact of currency movements and acquisitions, was 8.5% in the nine months to the end of September, the highest since 2008.

Nestle said it had decided to explore strategic options for peanut allergy treatment Palforzia following “slower than expected adoption” by patients and healthcare professionals. It expected the review to be completed in the first half of 2023.

Nestle confirmed it was aiming to repurchase 20 billion Swiss francs ($21.09 billion) worth of shares from 2022 to 2024 and said it had already bought around 9.7 billion francs worth.

The maker of KitKat chocolate and Nescafe coffee also reiterated its goal of increasing its dividend year on year in Swiss franc terms.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Nestle shares were indicated 0.8% higher in pre-market activity.

“Nestle is now looking to 2025 with strong self-confidence, as seen in the ambitious financial targets,” Vontobel analyst Jean-Philippe Bertschy wrote in a note to clients, calling the stock a “must have”.

“The higher end of the 17.5% to 18.5% margin range looks highly promising and exciting.”

($1 = 0.9485 Swiss francs)

(Reporting by Michael ShieldsEditing by Miranda Murray, Kirsten Donovan)

 

Recent Post: