SWITZ: Nestlé Waters nine-month sales stay stable as Europe recovers
- Nine-month sales up 1.7% to CHF5.7bn
- Double-digit growth in Latin America, Asia
- Europe performance improves
- Group sales up 4.4%
The unit saw a slight increase in nine-month sales
Nestlé's Waters unit has reported a slight rise in nine-month sales as its Latin America and Asia regions performed strongly, Europe improved and North America held steady.
Sales from the division in the nine months to the end of September rose by 1.7% to CHF5.7bn (US$6.25bn), the Swiss conglomerate said today (17 October). It follows a similar level of sales growth in the group's first-half.
In Latin America and Asia, the unit saw “double-digit” sales rises, while the Middle East achieved “healthy growth”, the company said.
On a conference call earlier today, Nestle Waters' CEO John Harris said the unit had seen a "slowdown" in North America in July, but a "very good" September, partly helped by the weather.
On the July performance, he added: "Private label really took the pricing down ... and we decided we were going to protect our margins, which is what we did. But, we are coming back."
Meanwhile, in Europe the company said its waters performance “improved” with “market share gains helped by promotional activity in difficult trading conditions”.
The group as a whole reported nine-month sales of CHF68.4bn, up 4.4% on the prior year.
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