The world's biggest food group Nestle will push through further price increases this year, Chief Executive Mark Schneider said, after more expensive ingredients contributed to lower 2022 profits
The rest of the packaged goods industry has also increased prices to cope with surging costs for almost all raw materials after Russia's invasion of Ukraine compounded the impact of pandemic-related supply chain logjams.Real internal growth - a company indicator for sales volumes - rose only 0.1% for the year, weighed down by North America and the Nespresso business.
The question will be how much of the volume weakness persists from these factors into the first half of the year, Ackerman added. Shareholders' net profit fell to 9.27 billion Swiss francs, missing expectations for 11.58 billion francs, although the consensus forecast did not account for the impairment at Nestle's Aimmune subsidiary last year, analysts said.
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