Nestlé sales growth driven by Americas

International food and beverage company Nestlé S.A. has seen its sales increase in the first nine months of 2015 with marked growth across the Americas.

The Switzerland-headquartered firm’s sales in North America and Latin America reached 18.5bn Swiss francs (CHF), which represents organic growth of 5.8% and real internal growth of 1.2%.

Conversely, sales were more moderate in the Asia, Oceania and sub-Saharan Africa (AOA) markets, falling against the same period in 2014 by 0.5% at CHF 10.4bn. The firm has attributed its AOA performance to the withdrawal of its Maggi brand of noodles in India, in addition to a slowdown in China’s economy.

Paul Bulcke, Nestlé’s CEO, said: “After a good performance in the first half of the year we were impacted in the third quarter by exceptional events, with Maggi noodles in India and a rebate adjustment in Nestlé Skin Health.

“On the whole, organic growth fell short of our expectations and therefore we project organic growth of around 4.5% for the full year, with improvements in margins and underlying earnings per share in constant currencies, and capital efficiency.”