Nestle 2019 Profit, Sales Rose
February 13 2020 - 2:10AM
Dow Jones News
By Giulia Petroni
Nestle SA said Thursday that 2019 net profit rose, boosted by
the sale of its skin-health business.
The Swiss food-and-beverage company said net profit was 12.6
billion Swiss francs ($12.90 billion) compared with CHF10.1 billion
the previous year.
Sales rose 1.2% to CHF92.57 billion on year and organic growth
was 3.5% in line with guidance, the company said.
Analysts had forecast net profit of CHF11.77 billion and sales
of CHF92.97 billion, according to a consensus compiled by
FactSet.
"Organic growth accelerated, fueled by strong momentum in the
United States and Purina PetCare globally," Chief Executive Mark
Schneider said. "Profitability improved again and reached our
guided range one year ahead of plan."
The company said it proposed a dividend increase to CHF2.70 a
share and started a new share buyback program of up to CHF20
billion in 2020.
Looking ahead, Nestle said it expects a continued increase in
organic sales growth and forecasts growth acceleration toward the
mid-single digit range in the 2021-22 period.
The company said it is too early to assess the impact of the
coronavirus outbreak.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 13, 2020 01:55 ET (06:55 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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