Nestle banks on China for sales growth
By Feng Jianmin |
October 19, 2012, Friday
|
Print Edition
Print Edition
NESTLE SA expects sales in China to double this year to 5 billion Swiss francs (US$54 billion) from 2011 and plans to open two research centers on the mainland next year.
The sales, which will include contributions by Hsu Fu Chi, a Dongguan-based sweet confectionery producer, and Yinlu, a Xiamen-based beverage maker, that Nestle acquired this year, may push China to replace Germany as the fourth largest market for the Swiss firm, officials said yesterday in Shanghai. Germany posted sales of 3.4 billion Swiss francs in 2011. Nestle released its global financial results for the first nine months of the year in Shanghai yesterday.
Nestle global CEO Paul Bulcke said organic sales in China grew by double digits in the first three quarters, while the company's global sales rose 6.1 percent to 67.6 billion Swiss francs during the same period. The global performance fell short of analyst expectations of 6.3 percent according to a Bloomberg News survey.
Roland Decorvet, market head of Nestle China, said organic sales growth in China may expand by double digits next year. He singled out coffee, dairy, infant products and joint venture products as the five main businesses in China.
Bulcke said Nestle will open a research center in Dongguan and Xiamen to expand and improve products sold in China.
Nestle said its sales in emerging markets grew 11.7 percent in the first nine months, down from over 40 percent in 2011.
The sales, which will include contributions by Hsu Fu Chi, a Dongguan-based sweet confectionery producer, and Yinlu, a Xiamen-based beverage maker, that Nestle acquired this year, may push China to replace Germany as the fourth largest market for the Swiss firm, officials said yesterday in Shanghai. Germany posted sales of 3.4 billion Swiss francs in 2011. Nestle released its global financial results for the first nine months of the year in Shanghai yesterday.
Nestle global CEO Paul Bulcke said organic sales in China grew by double digits in the first three quarters, while the company's global sales rose 6.1 percent to 67.6 billion Swiss francs during the same period. The global performance fell short of analyst expectations of 6.3 percent according to a Bloomberg News survey.
Roland Decorvet, market head of Nestle China, said organic sales growth in China may expand by double digits next year. He singled out coffee, dairy, infant products and joint venture products as the five main businesses in China.
Bulcke said Nestle will open a research center in Dongguan and Xiamen to expand and improve products sold in China.
Nestle said its sales in emerging markets grew 11.7 percent in the first nine months, down from over 40 percent in 2011.
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