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Nestle Bulgaria Posts 16% Organic Sales Growth in Jan-Sept

Nestle Bulgaria, a division of Swiss food and drink processing conglomerate Nestle, said that its organic sales grew 15.8% in the first nine months of 2023, which exceeded more than twice the growth rate for the group as a whole.

The positive sales result of the Bulgarian unit was also 4.3% above the growth it recorded in January-September 2022, Nestle Bulgaria said in a press release on Thursday without providing further financial details.

“The sustainable business performance of Nestlé in Bulgaria continues in the third quarter and gives us confidence in achieving our annual commitments,” Petar Stoilov, CEO of Nestle Bulgaria, said in the statement.

The group’s overall European business generated nine-month organic growth of 8.8%. Sales in Europe came in at 14.1 billion Swiss francs ($15.8 billion/14.9 billion euro) in the January-September period.

Nestle reaffirmed its full-year 2023 outlook for the group, with an estimated growth in organic sales between 7% and 8% and an underlying trading operating profit margin seen at between 17.0% and 17.5%.

(CHF 1 = 1.0599 euro)

Source : Seenews