Food group Nestle intends to defend its margin against cost pressures this year, it said on Thursday, as it sticks with price increases that helped it beat sales growth and profit expectations last year.
Nestle, known for Nescafe instant coffee and Maggi bouillon cubes, said it expected its underlying trading operating profit margin to be broadly stable at 17.0%-17.5% this year, after a slight decrease to 17.4% last year.Underlying or organic sales, which strip out currency swings and acquisitions, are expected to grow more slowly by around 5% this year, after an unexpectedly strong fourth-quarter rise of 7.2% and full-year growth to 7.5%, exceeding expectations.
"While some of that will lessen now with the pandemic coming to an end, some of it is also going to stay," he said. Schneider said 2022 had started well in terms of organic growth. "We're now well and solidly positioned for sustained mid-single-digit growth performance," he said.
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