Q1 sales up 1.4% organically (Il Sole 24 Ore Radiocor) - Bern, 25 Apr - Swiss food giant Nestle said its first quarter sales came in at 22.1 billion francs, down 5.9% reflecting an adverse 6.7% impact from foreign exchange and a 0.6% negative net divesture effect.

Organically, sales rose 1.4% with pricing of 3.4% and real internal growth of a negative 2.0%.

By region, organic growth was driven by Europe, up 4.4%, and Greater China, up 3.7%. Asia, Oceania, Africa saw a 3.6% increase and Latin America 3.1%. North America saw a 2.5% organic sales contraction.

Nestle confirmed its full year guidance of organic sales growth of around 4 and a moderate increase in the underlying trading operating profit margin. Underlying earnings per share in constant currency is expected to increase between 6-10%.

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(RADIOCOR) 25-04-24 08:16:40 (0157) 5 NNNN