Nestle Forecasts 2012 Earnings Gain as Sales Beat Estimates
(Updates with comment on acquisition strategy in 13th paragraph, buyback strategy in final.)
Feb. 16 (Bloomberg) -- Nestle SA, the world’s biggest food company, reported 2011 sales growth that beat analysts’ estimates and forecast higher 2012 earnings as it introduces products such as the Nescafe Alegria coffee maker.
Sales rose 7.5 percent excluding acquisitions, disposals and currency shifts, the Vevey, Switzerland-based company said today in a statement. That beat the 7 percent average estimate of 12 analysts surveyed by Bloomberg. Nestle forecast higher underlying earnings per share at constant currencies in 2012.
Nestle has developed Maggi Juicy Roasting cooking aids and Dreyer’s smoothies to counter weakening consumer sentiment in North America and Europe. The company has also passed on higher raw-material costs to consumers in the form of increased prices. Sales from its Americas unit gained 6.2 percent, helped by the introduction of products such as DiGiorno Pizza Combos.
Lanci resigned on March 31, less than a week after the world's second-largest notebook maker lowered its sales forecast that led to a four-day, 18 percent rout of the stock. The Taipei-based company said today it estimates PC shipments to decline 10
New Milestones: The company has improved its global year-ahead weather forecasting technology and luanched www.weathertrends360.com, a free global long-range forecasting service–up to a full year in advance–for every inch of the planet.
