Nestlé has reported a -2.9% drop in organic growth in first quarter confectionery sales, citing a later Easter and an earlier Chinese New Year this year.
Lindt & Sprüngli has recorded a 40.2% rise in net profit in the first half of the year results driven by improved consumer sentiment in developed markets such as the US and Europe.
Nestlé has cut its sales growth expectations for the full year – but even the revised target will be a stretch, according to the company’s financial chief.
Nestlé has reported declining profit margins for its confectionery business in its half-year results due to the turbulent European economy, but grew sales in the segment thanks to its Kit Kat brand and new innovations.
Swiss chocolatier Lindt & Sprüngli is considering constructing a training centre at its headquarters in Switzerland after ditching plans to expand production.
Swiss chocolatier Lindt has recorded sales below market expectations and could be subject to a takeover from Nestle, according to an analyst from Kepler Capital Markets.
Nestle yesterday reported organic sales rose by seven per cent in
the first nine months of this year, with the company successfully
managing to offset rising raw material costs by hiking prices.
In a year dominated by acquisitions and changes within its
operational structure, Switzerland-based food group Nestlé has
still exceeded expectations with full-year organic growth boosted
by the company's focus on nutrition,...
Swiss food giant Nestlé has announced a first-quarter sales rise of
14.1 per cent to CHF22.8bn (€14.5bn), beating analyst expectations
and reconfirming its full-year target of a five to six per cent
growth rate.
New products and seasonal success may have given Hershey increased
2005 sales, but income for the confectionery colossus remains
blighted by the cost of reorganisation.
The bolt-on acquisition of Rhodia Food Ingredients earlier this
year helps boost sales for Danish ingredients and sugar group
Danisco in an otherwise challenging 2004/05 first half.
Nestlé saw a decrease in revenue and profits in 2003, but the
company has managed to stay within its targets for organic growth
and claims that it is "cautiously optimistic" for 2004.
