GENEVA (AP) — Nestle has reported its sales for the first nine months of 2016 rose 1 percent, as the Swiss food and drinks giant focuses on volume growth at a time of soft pricing.
The Vevey, Switzerland-based company behind Lean Cuisine, Stouffer's and Nespresso said sales rose to 65.5 billion Swiss francs ($66.2 billion), despite negative impacts from currency exchange and the net results of divestments and acquisitions.
CEO Paul Bulcke hailed "broad-based growth," and said Nestle is working to become "leaner."
Chief Financial Officer Francois-Xavier Roger said China remains "rather challenging." Nestle said the greatest organic growth, which excludes the impact of acquisitions, was greatest in the Americas region at 4.8 percent.
It said overall organic growth was 3.5 percent in the period and expects that rate for the full year.