Oceania performs well for Nestle in third quarter
Nestle remained resilient in a difficult and volatile environment, in the third quarter according to CEO Mark Schneider, with organic sales up 3.5 per cent.
The multinational FMCG giant says growth was supported by strong momentum in the Americas, its Purina PetCare division and Nestle Health Science business.
While Australia and New Zealand returned “slightly positive” organic growth, and Southeast Asia mid single-digit organic growth, falling sales in China saw the broader Oceania and sub-Saharan Africa region decline by 0.2 per cent.
Oceania reported growth across most product categories, particularly in coffee and confectionery.
Sales in the Philippines grew at a double-digit rate, with elevated consumer demand for Bear Brand, Milo and Maggi. Indonesia delivered high single-digit growth, led by Bear Brand, Dancow and Milo. South Asia continued to perform well. India posted strong mid single-digit growth, with good momentum in Maggi, Nescafé and KitKat.
Schneider said the Nestle global team acted in a responsible and prompt manner to mitigate the impact of the global pandemic and has adapted quickly to evolving consumer needs.
“Strong organic growth was broad based and supported by sustained momentum in the Americas, Purina PetCare and Nestle Health Science, as well as the acceleration of our coffee business in the third quarter.”
The company continued to develop its portfolio with speed and discipline. “As an example, we are transforming Nestle Health Science into a nutrition and health powerhouse through a combination of strong organic growth and targeted acquisitions. The recent additions of Zenpep, Vital Proteins and Aimmune Therapeutics are further steps in the expansion of our nutritional health offerings.”