Nestle announces lower profits for first half on supply chain woes

Published by
DPA

Shares of Nestle were losing more than 1% in Swiss trading after the food and beverage giant reported weak profit in its first half, despite increased sales, citing suply chain challenges among other factors on Thursday. Further, the company trimmed fiscal 2022 forecast for underlying trading operating profit margin, but lifted organic sales growth view. For the year, the company now expects underlying trading operating profit margin around 17%, compared to previous estimate between 17% and 17.5%. Nestle now expects organic sales growth between 7% and 8%, while previous estimate was organic sa…

Read More

Leave a Reply