Nestle Sales Rise On Demand From Emerging Markets
On Thursday, Nestle held its annual general meeting in Lausanne where shareholders approved a dividend of 1.95 francs ($2.13) per share.
Like many Swiss companies, Nestle has had to cope with the strength of the Swiss franc against other currencies, but since last summer Switzerland's central bank has moved aggressively to weaken the franc and improve the outlook for Swiss exports.
The world's biggest food and beverage maker said its organic sales growth was a robust 7.2 percent, while real internal growth was 2.8 percent.
Nestle said organic growth was 6.2 percent in the Americas, 2.3 percent in Europe and 11.4 percent in Asia, Oceania and Africa.
The company had posted sales of 22.34 billion francs ($24.38 billion) in the first quarter of 2010. Nestle did not comment on its bid to buy Pfizer Inc.'s infant-nutrition business for a reported $9 billion, a deal that would help the Swiss-based company to boost growth in China and maintain its position as one of the world's largest sellers of infant formula.Select the service that is right for you!
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