INTERNATIONAL – Nestle put its Herta processed meats business on the block on Thursday, accelerating the food group’s revamp as it reported an uptick in sales momentum for the first time in seven years.
Improvements in China, North America and in its infant nutrition business last year helped Nestle to break a run of sluggish growth and to forecast sales improvements of more than 3 percent in 2019.
Chief Executive Mark Schneider said the company would not let up on its turnaround, part of efforts to adjust to a shift in customer preferences away from packaged food towards healthier eating.
“We are satisfied with the results we present today, but we still have ambitious targets. There’s no reason to lean back,” Schneider told reporters at the company’s headquarters in Vevey on Lake Geneva on Thursday.
He said Nestle was progressing towards its 2020 targets of mid-single digit organic growth and a margin of 17.5-18.5 percent.