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Nestlé, the largest food manufacturer in the world, has announced the fastest growth in core sales in three years, as the pace of recovery of chocolate maker Kat-Kat accelerates under the leadership of CEO, Mark Schneider.
The packaged food industry is struggling to adapt to the growing consumer appetite for fresh produce, which is considered healthier and more competitive than small local businesses offering products ranging from breakfast cereals to coffee and chocolate.
Since taking office in 2017, Schneider has pushed the company towards new areas such as plant-based foods, repositioning major brands such as Nescafé for instant coffee and putting an end to inefficient activities such as than candy manufacturing activities in the United States. Schneider is the first to lead the company for almost half a century.
Nestlé core sales, excluding currency fluctuations, acquisitions and disposals, increased to 3.9% in the quarter ended June, the highest quarterly rate since the beginning of the year. 2016.
Schneider told reporters for the first half that the results were similar to badysts' expectations for growth of 3.6%, up 2.8% from the same period of the previous year.
"People see good growth and earnings momentum in the company, and we do not expect it to stop in 2020, so momentum will continue," Schneider said.
"I think the results of the work show very convincingly that we are on the right track to achieve these goals," he said in reference to Nestlé's goals.
The net profit of the largest food company in the world fell by 14.6% to 5 billion Swiss francs (5.05 billion dollars), a year ago against a gain of 2.8 billion dollars from the sale from its confectionery business in the United States to Ferrero.
Nestlé's revenue in the first half rose 3.5% to 45.46 billion Swiss francs, below the forecast of 45.7 billion Swiss francs. The United States and Brazil, number one and fourth in the Nestlé market, performed well.
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