NSRGY Nestle SA (PK)

   By Cristina Roca 
 

Nestle SA (NESN.EB) said Friday that net profit in the first half declined, and it backed its 2019 guidance, providing more precise targets for its top line and margin.

Net profit for the period was 5 billion Swiss francs ($5.07 billion) compared with CHF5.8 billion the year previous, when net profit benefited from the disposal of its U.S. confectionery business.

The Swiss food-and-beverage company said sales in the first half were CHF45.46 billion, up 3.6% on an organic basis.

"Our growth was broad-based with our largest market, the United States, performing particularly well," Nestle Chief Executive Mark Schneider said. Organic growth in the Americas region was 3.9%.

Real internal growth for the period was 2.6%, Nestle said.

For 2019, Nestle said it expects organic sales growth of about 3.5% and its underlying trading operating profit margin to be at or above 17.5%.

Nestle also continues to expect its underlying earnings per share in constant currency and capital efficiency to increase for the full year.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

July 26, 2019 01:51 ET (05:51 GMT)

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