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Switzerland (10) -- News -- 2010
Nestle AG posted a 4.4 percent increase in first-quarter sales
22.04.2010
Nestle AG posted a 4.4 percent increase in first-quarter sales on Thursday as the world’s largest food and drink maker made gains in emerging economies.
The Swiss-based company said sales totaled 26.3 billion Swiss francs (about $24.6 billion), which it described as a strong performance in a still-difficult economic environment.
The results beat analysts’ expectations, and Nestle shares rose 1.5 percent to close at 52.80 francs ($49.37) in Zurich.
“Our strong sales performance in the first quarter confirms we are capturing opportunities in our different growth pillars, both in emerging and developed markets,” said Paul Bulcke, the CEO of Nestle, which offers premium brands such as Nescafe, Perrier, Jenny Craig and Haagen Dazs.
Nestle is aiming for a third successive full-year turnover above 100 billion francs ($95 billion), offering new low-cost products in developing countries where it expects the percentage of the group’s sales to grow from 32 percent to 45 percent over the coming decade.
Food and beverage sales accounted for over 90 percent of Nestle’s sales. In Africa, Asia and Oceania, they jumped 10 percent to 4.1 billion francs, while sales rose only 2 percent in the Americas and 1.8 percent in Europe.
Nestle said organic growth reached 6.5 percent in the first quarter, while foreign exchange rates negatively impacted sales significantly.
The overall growth in all regions “confirms the momentum gathered in the latter part of 2009,” it said, noting an acceleration in demand in Western Europe and particularly strong performances in the emerging markets of Brazil, China, India and Russia.
Nestle said it gained market share in Western Europe thanks to the rollout of Nescafe’s Dolce Gusto and Green Blend coffees, while there were good performances from Maggi’s new Juicy Chicken range, Herta chilled products and doughs, Buitoni frozen pizzas and Nesquik.
In North America, Dreyer’s ice cream and Purina petcare started the year well, Nestle said.
Zuercher Kantonalbank said consensus expectations were clearly surpassed, noting better than expected performances by Alcon eyecare products. It said prices improved from last year’s low base, but said the effect of exchange rates was worse than expected.
Switzerland (10) -- Analyses -- 2010
Roche and Novartis are threatening to pull their R&D out of UK
13.04.2010
Roche (RHBBY.PK) and Novartis (NVS), fighting with the UK government over drug pricing and regulations on clinical trials,
are threatening to pull their R&D out of the country.
The Swiss drug companies made their threats known in personal meetings with a government minister, according to Whitehall documents seen by the Guardian.
The documents also make clear that cabinet ministers have been conducting a vigorous charm offensive to prevent multinational drug companies leaving Britain. Novartis employs 3,500 people in Britain at nine sites while Roche has 1,500 workers in this country.
The ministers, including business secretary Lord Mandelson, have in recent months visited executives at their headquarters in Japan, the US and Europe in what officials call a "programme of ministerial visits".
The visits have been organised to patch up a relationship strained by ministers' efforts to force the firms to cut the prices of the drugs they sell to the NHS,
according to the documents.
In any of these "according to documents obtained by. . ." cases, you have to ask cui bono? Roche and Novartis have not made these threats publicly, so this could be a leak
from them to apply more pressure to the government. Or it could be a leak from inside the NHS, in order to make the companies look bad. I would be inclined to not pay
attention to any of the public statements on this issue from either side - the real story will take place out of the headlines, unless someone spills some more
meeting minutes.
Either way, I think it's unlikely that this would be followed through - but neither is it completely impossible, either, which is what makes it a reasonably effective move.
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Bulgarian