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...That would put the group between the $80bn revenues Procter & Gamble reported in 2022 and Nestlé’s $102bn sales....
...The improvement was led by double-digit growth in its Purina PetCare range, infant nutrition and confectionery, with particularly strong sales of KitKat....
...Poul Weihrauch, who currently runs Mars Petcare, will take over as chief executive at the end of September, the company announced on Wednesday, with Reid retiring at the end of the year....
...Companies that focus their marketing around sustainable sourcing have grown rapidly....
...The company reported £681.8mn of revenue last year and operating profits of £95.5mn....
...But should the company see the appointment of its former petcare chief as bad news for the Mars Bar and Wrigley?...
...Nestlé’s increases were greatest in its milk products and ice cream and petcare divisions, at about 12 per cent....
...The remaining 35 per cent came from petcare and other products for which HSR is not applicable. The data was compiled by the company and audited by the third party Bureau Veritas....
...Sally Wright, head of delivery at Nestlé’s UK and Ireland business, said the company planned to run a trial rail delivery between the midlands and Essex this month....
...Branded pet food is a highly consolidated industry dominated by Mars Petcare, Nestlé-owned Purina and Colgate-Palmolive, whose Hill’s brand focuses on products for specialist diets....
...Both Nestlé and P&G gain credit from investors for their defensive qualities. They trade at about 22 times forward earnings, in line with their five-year average. But Nestlé may be a better choice....
...In Europe, Nestlé, which owns the Purina brand, said petcare was the biggest contributor to organic growth during the first half. Pooches and kitties do not need new toys....
...The rising price tags for food and drinks brands including KitKats, Nescafé, Maggi noodles and Purina pet food did not deter people from buying Nestlé products, enabling the group to increase sales volumes...
...The price rises for foods including KitKats, Maggi noodles and Purina pet food failed to deter consumers from buying Nestlé’s products, enabling the group to increase sales volumes 1.7 per cent....
...Mark Schneider, Nestlé’s chief executive, said the company had stepped up pricing in a “responsible manner” and saw sustained consumer demand....
...Russia had previously accounted for just under 2 per cent of the company’s revenues....
..., petcare and medical nutrition....
...Nestlé said it would raise its dividend by 5 centimes to SFr2.8 per share, the company’s 27th consecutive dividend increase....
...The hire, not just from outside the company but outside the consumer goods sector, was an “extraordinary decision”, said Nestlé shareholder Christopher Rossbach, of J Stern & Co....
...Cost inflation would account for about 4 per cent of the price of the Swiss company’s goods sold this year, he said, adding that Nestlé would keep pushing up consumer prices through 2022....
...Nestlé, the world’s largest food company, posted its highest sales growth in five years on Thursday as the pandemic prompted consumers to spend more on petcare and dietary supplements....
...Now, Goudet is setting his sights on petcare, which he hopes will drive better returns. Since 2019, JAB has spent more than $11bn on the sector....
...That roughly 60 per cent sales increase eclipses rivals like Nestlé, Unilever or Mondelez....
...Petcare and confectionery also reported double-digit sales growth. Analysts were upbeat about the company’s prospects and performance versus others in the consumer sector....
...Nestlé, which owns the Purina pet food brand, says that, since allowing dogs into its UK headquarters in 2015, “the positive effects on our culture and the office atmosphere have been huge.”...
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