Nestle maintains organic growth in 2016

Nestle has announced its financial results for 2016, during which it generated an annual sales total of 89.5 billion Swiss francs (71.18 billion pounds).

This represented a year-on-year increase of 3.2 percent in terms of organic growth, reflecting continued strong real internal growth of 2.4 percent. This was at the high end of the average industry-wide range, albeit at the lower end of Nestle's internal expectations.

The company experienced encouraging momentum across all of its main regions, including developed and emerging markets, with its nutrition and health brands making positive contributions alongside its big-name food products.

Based on its 2016 performance, the company is predicting organic growth of between two and four percent for 2017, though its bottom line is likely to be affected by a considerable increase in restructuring costs – a move designed to improve future profitability.

Mark Schneider, Nestle's chief executive officer, said: "Nestle continues to invest in future growth and operating efficiency, targeting mid-single-digit organic growth and significant structural cost savings by 2020."

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