Nestle Sales Beat Forecast After Price Hikes

Source: International Business Times

Nestle CEO Laurent Freixe expects the food group to move 'in the right direction' AFP Swiss food giant Nestle reported better-than-expected annual sales on Thursday, boosting its shares after the maker of Nescafe coffee, KitKat chocolate and Purina dog food hiked prices to offset inflation. Shares in the group, whose myriad products also include Maggi bouillon cubes, Gerber baby food and Nesquik chocolate-flavoured drink, soared almost six percent in Zurich after its published its 2024 results. "In a challenging macroeconomic context and soft consumer environment, we achieved a solid performance in 2024 in line with our latest guidance," chief executive Laurent Freixe said in a statement.