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Virus stockpiling, divestment boosts Nestle results

China Usa Switzerland virus pandemic crisis Coronavirus
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ZURICH : Swiss food giant Nestle said Friday that its core sales surged in the first three months of 2020 as people stocked up on pet food and coffee amid the coronavirus crisis.

The sale of its US ice cream business in January also boosted its bottom line, offsetting a sharp drop in demand from China, a statement said.

Nestle said overall organic sales grew by 4.3 percent from the same period a year earlier, driven by strong sales in North America and Europe, with Purina PetCare products seeing the most growth, and sales of prepared dishes and coffee products also surging.

Organic growth excludes the impact of recent acquisitions or divestments to focus on a company's core operations. With the pandemic raging, Nestle's Health Science

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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