Swiss foods company, Nestle said its turnover for the first nine months fell to CHF65,272 million compared to CHF65,514 million disclosed last year.
Mark Schneider, Nestlé CEO said “Our sales results for the nine-month period are in line with our expectations communicated in July.
Organic sales growth continued to benefit from industry-leading volume growth, which illustrates our ability to innovate and meet consumer demand. Pricing remained soft. Zone AOA saw further improvement in organic growth. As expected, Western Europe returned to positive organic growth, with significant contributions from coffee and confectionery.
Improving our efficiency is a key priority. We have identified further opportunities to accelerate our margin improvement, leading to a further increase in restructuring and related expenses in 2017. Consequently, we now expect our trading operating profit margin to decrease by 40-60 basis points. The development of our underlying trading operating profit margin is fully in line with our expectations for 2017.”