Cost of world’s biggest food group’s products up almost 10% on average in first quarter via IrishTimesBiz
Chief executive Mark Schneider said Nestlé had “worked diligently to protect volume”. He said that Nestlé's price rises were “responsible” and had helped the company deal with “ongoing pressures from two years of cost inflation”.
Jean-Philippe Bertschy, analyst at Vontobel, said the “much stronger than expected” real internal growth would “definitely please investors” as this had been “one of the main concerns” with the previous set of results. Nestlé's increases were greatest in its milk products, ice cream and petcare divisions, at about 12 per cent. The overall 9.8 per cent price rise in the quarter followed a 10.1 per cent jump in the final three months of last year. Price increases of a similar magnitude were last seen in 1990.
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