Nestle sales beat forecast after price hikes [Yahoo! Finance]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance
Nestle CEO Laurent Freixe expects the food group to move 'in the right direction' (FABRICE COFFRINI) 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 around six percent in Zurich after it 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. The company's share price slumped by nearly a quarter last year, raising concerns in Switzerland as pensions funds invest heavily in Nestle. Freixe took over in September in a surprise change at the top of the Swiss group, which had faced flagging sales and scandals surroundi
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