ZURICH: Swiss food giant Nestle said Thursday that strong sales of coffee, baking goods and pet foods helped raise overall turnover by 1.3 percent in the first quarter of the year.
Global sales rose to 21.1 billion Swiss francs (19.1 billion euros, $22.9 billion) and Nestle said it increased its share in growing markets, in an indication the group is weathering the coronavirus pandemic without much trouble.
On an organic basis, which excludes effects from acquisitions, divestments and foreign exchange movements, sales jumped by 7.7 percent in the first three months of 2021.
Nestle is transforming its portfolio of brands and has begun to increase its offer of vegetarian products, for example, to accompany global consumption trends.
And while “coffee was the largest contributor to growth” owing to strong demand for its Nespresso, Nescafe and Starbucks brands, dairy and baking products and pet food also contributed to the increase in organic growth.
“Vegetarian and plant-based food offerings continued to see strong double-digit growth” as well, the group noted.
Comments
Comments are closed for this article.