ZURICH: Food group Nestle on Thursday cut its full-year underlying sales forecast after strong consumer stockpiling at the start of coronavirus ...
ZURICH: Food group Nestle on Thursday cut its full-year underlying sales forecast after strong consumer stockpiling at the start of coronavirus related-lockdowns in Europe and North America was followed by weaker demand in the second quarter.
Organic sales growth, excluding currency swings and mergers and acquisitions, slowed to 1.3per cent in the three months to June, from 4.3per cent in the first quarter, the maker of KitKat chocolate bars and Nescafe coffee, said in a statement.The Swiss giant lowered its expectations for organic growth this year to 2-3per cent, from"more than 3.5per cent" previously.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pfizer raises 2020 profit forecast on projected recovery in drug salesPfizer Inc reported a 32per cent fall in second-quarter profit on Tuesday due to a dip in demand for some of its drugs from the COVID-19 pandemic ...
Read more »
Coronavirus: 'Bubble' a possibility for 2020-21 NBA season, says National Basketball Players' AssociationORLANDO (REUTERS) - National Basketball Players Association executive director Michele Roberts said Tuesday (July 28) that the 'bubble' environment might be necessary for the 2020-21 season to be held.. Read more at straitstimes.com.
Read more »
NDP 2020: President Halimah lauds Covid-19 front-line workers, including 100 participating in mobile columnSINGAPORE - About 100 workers on the front lines of the Covid-19 fight and providing essential services will be part of the National Day Parade (NDP) mobile column this year as part of a special recognition of their contributions.. Read more at straitstimes.com.
Read more »
Mary Chia foresees fiscal 2020 net loss worseningBEAUTY and wellness company Mary Chia Holdings expects a “significant” increase in its net loss for the full year ended March 31, 2020, compared with the net loss of S$1.4 million recorded for the six months ended Sept 30, 2019. Read more at The Business Times.
Read more »
The 2020 Gold RushThe yellow metal – a traditional safe-haven play − has hurtled past the all-time high on a pandemic-led perfect storm. At US$1,958.43 an ounce struck on Tuesday, gold prices have eclipsed September 2011’s record of US$1,920/oz. Next, it seems to be eyeing a key psychological mark − US$2,000/oz. The Business Times highlights five triggers for gold’s spectacular sprint. Read more at The Business Times.
Read more »
OUE and Fragrance Group expect net losses for H1 2020TWO property companies - OUE and Fragrance Group - have flagged guidance of losses made in the first six months of this year. Read more at The Business Times.
Read more »