Food producer Nestlé increased its turnover on its own in the first nine months of the year compared to a year earlier. The counterpart of Unilever did good business and benefited from a collaboration with Starbucks, among other things. In addition, it announced that it would reward its shareholders with a share buy-back program of 20 billion Swiss francs, equivalent to 18.2 billion euros.
In the past nine months, the revenues from own strength increased by 3.7 percent on an annual basis. The sales increase in North and South America was 4.1 percent. Sales of Starbucks coffee for its Nestlé espresso machines continued to improve. Purina’s animal nutrition products were also in great demand. The total turnover in the reporting period was 68 billion francs.
The department that sells drinking water under brands such as Perrier and S.Pellegrino was a blot on the results. Turnover under their own power fell by 2.5 percent there. Head of that branch Maurizio Patarnello leaves at the end of this year and the part is integrated into the group.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
