Nestle FY20 Profit Down, Organic Sales Rise; Lifts Dividend; Sees Growth Ahead
VEVEY (dpa-AFX) - Swiss food and beverage giant Nestle SA reported Thursday lower profit in its fiscal 2020 with weak sales. However, sales increased organically, and the company continues to expect organic sales growth in fiscal 2021 towards a mid single digit rate.
For fiscal 2021, the company projects an increase in underlying earnings per share in constant currency and underlying trading operating profit margin with continued moderate improvement.
For the mid-term, the company anticipates sustained mid single-digit organic sales growth and continued moderate underlying trading operating profit margin improvement.
Further, Nestle said its Board of Directors will propose a dividend of 2.75 francs per share, an increase of 5 centimes, at the Annual General Meeting on April 15. The recording date of the dividend will be April 16, and payable as from April 21.
Pandemic pet surge sends Nestlé sales soaring
Purina Petcare division drives sales growth last year up more than a tenth from 2019 levels
18 February 2021 • 11:38am
Nestlé posted its fastest sales growth in five years as it was fuelled by demand for pet food and vitamin supplements in lockdown.
The world’s largest food company continued to outshine its rivals by notching up organic sales growth of 3.6pc in 2020 - the highest level since 2015.
Its Purina Petcare division was the biggest driver of growth, with sales up 10.2pc compared with 2019.
The health science arm also buoyed its performance with sales up 12.2pc on strong demand for its vitamin and mineral supplements ranges.
Provided by Dow Jones By Giulia Petroni Nestle SA reported full-year 2020 results earlier on Thursday. Here s what we watched: PROFIT: The Swiss food-and-beverage company said net profit for the year was 12.23 billion Swiss francs ($13.65 billion), above analysts expectations of CHF11.97 billion, according to a company-compiled consensus. SALES: Sales fell to CHF84.34 billion from CHF92.57 billion the previous year. A company-compiled consensus had forecast sales at CHF84.78 billion. WHAT WE WATCHED: -ORGANIC GROWTH: Nestle reached an organic growth of 3.6%, above a company-compiled consensus that had forecast it at 3.5%. This implies an improved fourth quarter with growth close to 4%, or 40 basis points above consensus, analysts at Citi say. The result was driven by a strong performance in the Americas, as well as petcare products and supplements sold by the Health Science division.
Nestle says its net profit slipped to £9 78 billion in 2020 invezz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from invezz.com Daily Mail and Mail on Sunday newspapers.
Purina Pro Plan LiveClear Voted Product of the Year 2021
Innovative Formula Wins in Cat Care Category as First-and-Only Food that Reduces the Major Allergen in Cat Hair and Dander
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ST. LOUIS, Feb. 18, 2021 /PRNewswire/ Today, Pro Plan LiveClear announced its win as Product of the Year for 2021, receiving top honors in the cat care category. Product of the Year is the largest consumer-voted award for product innovation, chosen by 40,000 American shoppers in a national survey conducted by Kantar, a global leader in consumer research. Praised for its innovation in the pet food space, Pro Plan LiveClear is a breakthrough formula for cats that reduces the major allergen in cat hair and dander. It is the culmination of more than a decade of Purina research dedicated to finding a safe, effective way to address a problem that impacts countless cat-owning households worldwide.