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LONDON (Reuters) -Nestle improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs.
Nestle said it is narrowing its full-year organic sales growth guidance to a range of 7%-8% from a range of 6-8%.
The Swiss company, which makes Kit Kat chocolate wafer bars and Nescafe coffee, said organic sales during the period rose 8.7%, beating average estimate 8.1% growth, according to a company-provided analyst consensus.
Nestle’s 9.5% price increases were ahead of the average analyst estimate of 8.7%. Real internal growth - or sales volumes - fell 0.8% versus expectations of a 0.6% decline.
Reporting by Richa Naidu; Editing by Kim Coghill
