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Nestle's 9-month sales miss expectations

  • Nestle's (NSRGY.PK) nine-month revenues rose 4% to 68.4B francs ($74.68B), missing consensus of 69.3B francs.
  • Underlying (organic) sales growth slowed to 4.4% from 6.1% last year and undershot forecasts of 4.5%.
  • Sales breakdown: Asia, Oceania and Africa +6.9%; Europe +0.9%; Americas +5.1%.
  • "Europe continues to grow, and Asia and Africa have picked up speed," Nestle CEO Paul Bulcke says.
  • Expects FY organic sales of +5%, as well as improved margins and underlying EPS in constant currencies. (PR)
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