Nestle posts weak revenue growth, confirms guidance

 

Nestle (OTCPK:NSRGY) reported its slowest first-half sales growth since 2009, with revenue increasing 3.5% on an organic basis, as the world’s largest food company struggled to raise prices.

Net profit fell to 4.1B Swiss francs ($4.2B), missing estimates, due to a one-off non-cash adjustment to deferred taxes.

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While pricing has reached «historically low levels,» it should rebound «somewhat» in coming months, said Nestle CEO Paul Bulcke, confirming a 4.2% organic growth target for 2016.

Fuente: Seeking Alpha


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