Tasty treat

26 July 2019 By Dasha Afanasieva Follow @dasha_reuters

The $309 bln maker of Nespresso reported strong first-half organic sales growth. Higher commodity prices make for a trickier second half but CEO Mark Schneider is doing enough to keep activist Third Point happy. That reduces pressure to sell the company’s prized L’Oréal stake.

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Swiss consumer giant Nestlé on July 26 reported revenue of 45.5 billion Swiss francs ($50 billion) for the first half of the year. Organic growth of 3.6% from the same period a year earlier was in line with a company-supplied consensus forecast.

Nestlé said its underlying trading operating margin rose to 17.1%, up 100 basis points from a year ago.

The $309 billion maker of Nespresso coffee and S.Pellegrino mineral water said the biggest contributors to growth were Purina PetCare, coffee and infant nutrition.

Shares of Nestlé rose 1.8% to 104.1 Swiss francs by 0822 GMT on July 26.

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