Source: www.reuters.com
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ZURICH (Reuters) - Food group Nestle said on Thursday it expected underlying sales to rise around 5% this year after strong demand for coffee and pet food as well as price hikes helped growth accelerate ahead of expectations in the fourth quarter.
Underlying or organic sales, which strip out currency swings and acquisitions, rose 7.5% last year, ahead of a 7.1% forecast in a company-compiled poll of analysts, thanks to a 7.2% rise in the fourth quarter, the maker of Nescafe instant coffee said in a statement.
The underlying trading operating profit margin declined slightly to 17.4%, from 17.7% in 2020.
Reporting by Silke Koltrowitz; Editing by Michael Shields
