Swiss food giant Nestlé is targeting steady growth in sales volume in the remaining quarters of the year as cost inflation moderates, its CEO told Swiss weekend paper “Schweiz am Wochenende” on Saturday.
“From the second quarter and for the rest of the year, we can expect a stable, positive contribution to growth from volume and product mix,” Markus Schneider was quoted as saying by the newspaper.
The maker of the Nespresso, KitKat and Perrier brands said in April that first-quarter sales fell 5.9%, but rose 1.4% when adjusted for currency swings. At that time currency-adjusted 2024 sales growth is forecast at 4%.
Schneider told the paper that the company is confident it has overcome the challenges of cost inflation and low sales volumes due to mark-up pricing. “We are now seeing stability in the situation,” he said.
(You can now subscribe to our ETMarkets WhatsApp channel)