Trending
Sabre EMEA 2024 Awards: Razor PR, Retroviral top SA agenciesDanette Breitenbach
Clothing brand Curve Gear opens new store in Tygervalley CentreLindsey Schutters
Elections 2024
Advertise your job ad
Jobs
- Client Service Manager Johannesburg
- Call Centre Agent Johannesburg
- CRM - Campaign Manager Cape Town
- Customer Service - UK - Work from Home Nationwide
Nestlé posts 2.1% sales drop in first quarter
GENEVA: Swiss food giant Nestlé on Wednesday, 23 April 2009, said first quarter sales fell 2.1% to 25,2 billion Swiss francs (€16,7 billion, US$21,6 billion), hit by negative currency exchange rates.
The group said the strength of the Swiss francs in relation to other currency led to a negative impact of 5.2% in sales.
Nevertheless, Nestlé confirmed its full year target of around 5.0% in organic growth.
To cope with "challenging economic environment in 2009", the group said it is strengthening cost efficiencies, innovation and product affordability.
"The increasing momentum from such initiatives, as well as the strength of our brands and our worldwide geographic presence, enables me to confirm our guidance for 2009 as a whole," said chief executive Paul Bulcke.
Source: AFP
Published courtesy of
Related
