Nestlé posts strong third quarter

Swiss-based food giant Nestlé, the world’s number one in its field, says nine-month sales are up 4.1 per cent to SFr82.8 billion ($85.5 billion).

This content was published on October 22, 2010 - 09:45 and agencies

The company said on Friday that there was growth across the board, but in particular there had been strong demand in emerging markets and its thriving Nespresso coffee business.

Sales at Nestle's core food and beverages unit – which makes Nescafé coffee, KitKat chocolate bars and Maggi soups – were up SFr77 billion.

The figures were boosted by a 10.7 per cent organic growth in Asia, Oceania and Africa, which was far above the more sluggish 5.5 per cent in the Americas and 3.3 per cent in Europe.

“The first half’s growth momentum continued unabated in the third quarter, providing a good base for the full year as we face challenging comparatives in the final quarter,” said chief executive officer Paul Bulcke in a statement.

Nestle has been realigning its portfolio over the past quarter, selling its remaining stake in eye care company Alcon to pharmaceutical giant Novartis and opening a new health science division aimed at developing medicinal food products.

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