VEVEY (dpa-AFX) - Swiss food and beverage giant Nestle SA (NSRGY.PK, NSTR.L) reported that its total sales for the first-quarter were 22.1 billion Swiss francs, a decrease of 5.9% from last year. Foreign exchange decreased sales by 6.7%. Net divestitures had a negative impact of 0.6%.
Quarterly group organic sales growth was 1.4%, driven by Europe and emerging markets, with a negative impact from North America. Pricing was 3.4%, following a high base of comparison in 2023.
Zone North America organic revenues for the first quarter was down 2.5%. Pricing moderated to 3.3%.
Zone Europe organic revenues was up 4.4%, with pricing of 4.6%.
Looking ahead for full-year 2024, the company still expects organic sales growth of around 4% and a moderate increase in the underlying trading operating profit margin. Underlying earnings per share in constant currency is expected to increase between 6% and 10%.
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